Axxcess Wealth Management LLC Acquires 5,571 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Axxcess Wealth Management LLC increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 59.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,871 shares of the oil and gas producer’s stock after purchasing an additional 5,571 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Enterprise Products Partners were worth $431,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Perennial Investment Advisors LLC bought a new stake in shares of Enterprise Products Partners in the second quarter worth $202,000. Pekin Hardy Strauss Inc. lifted its holdings in Enterprise Products Partners by 6.4% in the second quarter. Pekin Hardy Strauss Inc. now owns 169,918 shares of the oil and gas producer’s stock valued at $4,924,000 after buying an additional 10,265 shares during the period. Moors & Cabot Inc. lifted its holdings in Enterprise Products Partners by 2.0% in the second quarter. Moors & Cabot Inc. now owns 390,379 shares of the oil and gas producer’s stock valued at $11,313,000 after buying an additional 7,723 shares during the period. Citizens Financial Group Inc. RI acquired a new position in Enterprise Products Partners in the second quarter valued at $424,000. Finally, Mesirow Financial Investment Management Inc. lifted its holdings in Enterprise Products Partners by 0.4% in the second quarter. Mesirow Financial Investment Management Inc. now owns 446,639 shares of the oil and gas producer’s stock valued at $12,945,000 after buying an additional 1,684 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.3 %

NYSE EPD opened at $29.30 on Friday. The firm has a market capitalization of $63.62 billion, a P/E ratio of 11.49, a PEG ratio of 1.49 and a beta of 1.03. The business has a fifty day simple moving average of $29.22 and a 200 day simple moving average of $28.89. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. On average, analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a dividend of $0.525 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.17%. Enterprise Products Partners’s dividend payout ratio is presently 82.35%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Morgan Stanley reduced their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Finally, Truist Financial upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average target price of $33.08.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.