7,819 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Bought by HWG Holdings LP

HWG Holdings LP bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,819 shares of the oil and gas producer’s stock, valued at approximately $227,000.

A number of other hedge funds have also modified their holdings of EPD. JRM Investment Counsel LLC boosted its position in shares of Enterprise Products Partners by 2.1% in the fourth quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after buying an additional 10,404 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of Enterprise Products Partners by 19.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after buying an additional 3,770 shares during the period. Platform Technology Partners boosted 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 worth $722,000 after buying an additional 3,426 shares during the period. Nwam LLC boosted its position in shares of 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 buying an additional 4,184 shares during the period. Finally, Icon Wealth Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter worth $11,623,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $29.18 on Monday. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The business has a 50-day moving average of $29.17 and a two-hundred day moving average of $28.93. The stock has a market capitalization of $63.37 billion, a P/E ratio of 11.44, a P/E/G 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 announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The company had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. Enterprise Products Partners’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. On average, equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.525 dividend. The ex-dividend date was Wednesday, July 31st. This is a positive change 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 7.20%. Enterprise Products Partners’s payout ratio is presently 82.35%.

Analyst Ratings Changes

Several analysts have recently commented on EPD shares. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Morgan Stanley reduced their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Finally, Truist Financial lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.08.

Enterprise Products Partners Company 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.