Bradley Foster & Sargent Inc. CT Grows Position in Enterprise Products Partners L.P. (NYSE:EPD)

Bradley Foster & Sargent Inc. CT increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 219,755 shares of the oil and gas producer’s stock after purchasing an additional 924 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Enterprise Products Partners were worth $6,368,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. L & S Advisors Inc boosted its stake in shares of Enterprise Products Partners by 24.5% during the 2nd quarter. L & S Advisors Inc now owns 9,340 shares of the oil and gas producer’s stock worth $271,000 after purchasing an additional 1,840 shares during the period. Axxcess Wealth Management LLC boosted its stake in shares of Enterprise Products Partners by 59.9% during the 2nd quarter. Axxcess Wealth Management LLC now owns 14,871 shares of the oil and gas producer’s stock worth $431,000 after purchasing an additional 5,571 shares during the period. Perennial Investment Advisors LLC purchased a new position in shares of Enterprise Products Partners during the 2nd quarter worth about $202,000. Pekin Hardy Strauss Inc. boosted its stake in shares of Enterprise Products Partners by 6.4% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 169,918 shares of the oil and gas producer’s stock worth $4,924,000 after purchasing an additional 10,265 shares during the period. Finally, Moors & Cabot Inc. lifted its holdings in Enterprise Products Partners by 2.0% during the 2nd quarter. Moors & Cabot Inc. now owns 390,379 shares of the oil and gas producer’s stock valued at $11,313,000 after buying an additional 7,723 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Down 0.1 %

NYSE:EPD opened at $29.48 on Thursday. Enterprise Products Partners L.P. has a one year low of $25.61 and a one year high of $30.05. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The firm has a market cap of $64.02 billion, a P/E ratio of 11.56, a P/E/G ratio of 1.49 and a beta of 1.03. The firm has a 50-day simple moving average of $29.22 and a 200-day simple moving average of $28.87.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS 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 the consensus estimate 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 was up 26.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 EPS. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.12%. The ex-dividend date of this dividend was Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is 82.35%.

Analysts Set New Price Targets

EPD has been the subject of a number of research analyst reports. 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. StockNews.com lowered shares of 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 objective on shares of 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 assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.