Enterprise Products Partners L.P. (NYSE:EPD) Holdings Lifted by Clear Rock Advisors LLC

Clear Rock Advisors LLC grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,273 shares of the oil and gas producer’s stock after buying an additional 5,830 shares during the period. Clear Rock Advisors LLC’s holdings in Enterprise Products Partners were worth $2,065,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in EPD. JRM Investment Counsel LLC raised its stake in Enterprise Products Partners by 2.1% during the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock valued at $13,316,000 after acquiring an additional 10,404 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Enterprise Products Partners by 19.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after purchasing an additional 3,770 shares during the period. Platform Technology Partners raised its stake in shares of Enterprise Products Partners by 14.4% during the fourth quarter. Platform Technology Partners now owns 27,245 shares of the oil and gas producer’s stock valued at $722,000 after purchasing an additional 3,426 shares in the last quarter. Nwam LLC lifted its holdings in Enterprise Products Partners by 25.1% in 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 position in Enterprise Products Partners in the 4th quarter valued at about $11,623,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EPD has been the topic of a number of recent analyst reports. Truist Financial boosted 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 report on Wednesday, July 31st. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Morgan Stanley decreased their price target on 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. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Stock Performance

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

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 for the quarter, missing the consensus estimate 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 return on equity of 20.13% and a net margin of 10.48%. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. As a group, 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.16%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s payout ratio 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.