Edge Capital Group LLC Acquires 1,251 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Edge Capital Group LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 61,590 shares of the oil and gas producer’s stock after purchasing an additional 1,251 shares during the quarter. Edge Capital Group LLC’s holdings in Enterprise Products Partners were worth $1,785,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EPD. Hantz Financial Services Inc. purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at about $25,000. Burkett Financial Services LLC purchased a new stake in Enterprise Products Partners during the 4th quarter valued at about $28,000. Stephens Consulting LLC purchased a new stake in shares of Enterprise Products Partners during the 1st quarter valued at about $29,000. Palisade Asset Management LLC purchased a new stake in shares of Enterprise Products Partners during the 1st quarter valued at about $29,000. Finally, Mascoma Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at about $29,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EPD shares. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial raised their price target 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, Morgan Stanley dropped their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Two 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Stock Performance

EPD opened at $29.32 on Monday. 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 company has a market cap of $63.67 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.49 and a beta of 1.03. The company’s 50 day moving average is $29.22 and its 200 day moving average is $28.90. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05.

Enterprise Products Partners (NYSE:EPD) last posted 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 analysts’ expectations of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 EPS. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.525 per share. This is a boost 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 dividend on an annualized basis and a yield of 7.16%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

About Enterprise Products Partners

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.