Pathway Financial Advisers LLC Increases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Pathway Financial Advisers LLC increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 261,782 shares of the oil and gas producer’s stock after acquiring an additional 1,662 shares during the period. Enterprise Products Partners comprises about 2.7% of Pathway Financial Advisers LLC’s holdings, making the stock its largest holding. Pathway Financial Advisers LLC’s holdings in Enterprise Products Partners were worth $7,582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of EPD. Cadence Bank increased its stake 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 worth $1,530,000 after buying an additional 365 shares during the period. McAdam LLC increased its holdings in Enterprise Products Partners by 1.3% during the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock valued at $831,000 after purchasing an additional 372 shares during the period. Advisor OS LLC raised its position in Enterprise Products Partners by 1.3% during the 2nd quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock valued at $854,000 after purchasing an additional 379 shares during the last quarter. Ellsworth Advisors LLC lifted its holdings in Enterprise Products Partners by 1.8% in the 2nd quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock worth $636,000 after buying an additional 383 shares during the period. Finally, Stokes Family Office LLC grew its position in shares of 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 worth $468,000 after buying an additional 399 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $29.12 on Tuesday. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The firm’s 50-day moving average is $29.16 and its 200 day moving average is $28.94. The stock has a market cap of $63.22 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 1.50 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 EPS. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders 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. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.21%. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio is presently 82.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Morgan Stanley decreased 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. Truist Financial increased their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note 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 investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

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.