Distillate Capital Partners LLC Buys 767,055 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Distillate Capital Partners LLC raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 160,136.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 767,534 shares of the oil and gas producer’s stock after acquiring an additional 767,055 shares during the period. Enterprise Products Partners makes up about 1.2% of Distillate Capital Partners LLC’s investment portfolio, making the stock its 19th largest position. Distillate Capital Partners LLC’s holdings in Enterprise Products Partners were worth $22,243,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EPD. Aveo Capital Partners LLC raised its position in Enterprise Products Partners by 1.3% in the 4th quarter. Aveo Capital Partners LLC now owns 55,566 shares of the oil and gas producer’s stock worth $1,464,000 after purchasing an additional 716 shares during the period. Congress Wealth Management LLC DE grew its stake in shares of Enterprise Products Partners by 11.3% during the fourth quarter. Congress Wealth Management LLC DE now owns 48,862 shares of the oil and gas producer’s stock valued at $1,288,000 after buying an additional 4,978 shares during the last quarter. Johnson Financial Group Inc. raised its holdings in shares of Enterprise Products Partners by 71.7% in the fourth quarter. Johnson Financial Group Inc. now owns 3,768 shares of the oil and gas producer’s stock worth $99,000 after buying an additional 1,573 shares during the period. Hilltop Holdings Inc. lifted its stake in shares of Enterprise Products Partners by 2.3% during the 4th quarter. Hilltop Holdings Inc. now owns 92,200 shares of the oil and gas producer’s stock worth $2,429,000 after acquiring an additional 2,084 shares during the last quarter. Finally, Artisan Partners Limited Partnership purchased a new position in Enterprise Products Partners during the 4th quarter valued at $1,214,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.4 %

Shares of Enterprise Products Partners stock opened at $29.45 on Tuesday. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05. The firm’s 50 day simple moving average is $29.22 and its two-hundred day simple moving average is $28.91. 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 capitalization of $63.95 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.49 and a beta of 1.03.

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 (EPS) 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 firm had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same quarter last year, the business earned $0.57 EPS. The business’s revenue was up 26.6% on a year-over-year basis. 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. Investors of record on Wednesday, July 31st were issued 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 dividend on an annualized basis and a dividend yield of 7.13%. Enterprise Products Partners’s payout ratio is 82.35%.

Analysts Set New Price Targets

A number of research firms have weighed in on EPD. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial lifted their price objective 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 lowered their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Two investment 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, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.