Westwood Holdings Group Inc. Boosts Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Westwood Holdings Group Inc. grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 9.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,404,012 shares of the oil and gas producer’s stock after acquiring an additional 447,768 shares during the quarter. Westwood Holdings Group Inc. owned about 0.25% of Enterprise Products Partners worth $156,608,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cadence Bank lifted its holdings in shares of Enterprise Products Partners by 0.7% in the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after purchasing an additional 365 shares in the last quarter. McAdam LLC boosted its position in Enterprise Products Partners by 1.3% during the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after acquiring an additional 372 shares during the last quarter. Advisor OS LLC grew its stake in Enterprise Products Partners by 1.3% in the 2nd quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock worth $854,000 after acquiring an additional 379 shares during the period. Ellsworth Advisors LLC increased its stake in Enterprise Products Partners by 1.8% in the second quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock valued at $636,000 after purchasing an additional 383 shares during the last quarter. Finally, Stokes Family Office LLC grew its holdings in Enterprise Products Partners by 2.5% in the 2nd quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock valued at $468,000 after buying an additional 399 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of EPD opened at $29.30 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The firm has a market cap of $63.62 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The stock has a 50 day moving average of $29.22 and a 200-day moving average of $28.89.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. During the same period last year, the company posted $0.57 earnings per share. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.525 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date 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 (DPR) is 82.35%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of 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. Truist Financial lifted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners 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.