15,980 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Bought by Creekside Partners

Creekside Partners bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,980 shares of the oil and gas producer’s stock, valued at approximately $463,000.

A number of other institutional investors have also added to or reduced their stakes in EPD. JRM Investment Counsel LLC boosted its holdings in shares of Enterprise Products Partners by 2.1% in the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after purchasing an additional 10,404 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in Enterprise Products Partners by 19.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after buying an additional 3,770 shares during the period. Platform Technology Partners increased its position in shares of Enterprise Products Partners by 14.4% in the fourth quarter. Platform Technology Partners now owns 27,245 shares of the oil and gas producer’s stock valued at $722,000 after acquiring an additional 3,426 shares during the period. Nwam LLC boosted its holdings in shares of Enterprise Products Partners by 25.1% during the first quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock worth $591,000 after purchasing an additional 4,184 shares during the period. Finally, Icon Wealth Advisors LLC bought a new stake in shares of Enterprise Products Partners in the fourth quarter worth about $11,623,000. 26.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EPD has been the subject of a number of recent analyst reports. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Morgan Stanley reduced 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 research report on Monday, June 10th. Finally, Truist Financial raised their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $29.32 on Wednesday. The stock’s 50 day moving average is $29.14 and its 200 day moving average is $28.94. The company has a market capitalization of $63.66 billion, a P/E ratio of 11.50, a PEG ratio of 1.50 and a beta of 1.03. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $30.05. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $13.48 billion for 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%. Enterprise Products Partners’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a $0.525 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 7.16%. Enterprise Products Partners’s dividend payout ratio is 82.35%.

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.