Enterprise Products Partners L.P. $EPD Holdings Lifted by Pasadena Private Wealth LLC

Pasadena Private Wealth LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 14.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,541 shares of the oil and gas producer’s stock after purchasing an additional 5,966 shares during the period. Pasadena Private Wealth LLC’s holdings in Enterprise Products Partners were worth $1,474,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of EPD. Alps Advisors Inc. boosted its holdings in shares of Enterprise Products Partners by 5.0% in the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock valued at $1,410,891,000 after acquiring an additional 1,967,188 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Enterprise Products Partners by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock valued at $375,662,000 after acquiring an additional 457,045 shares in the last quarter. Chickasaw Capital Management LLC boosted its holdings in shares of Enterprise Products Partners by 1.5% in the second quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock valued at $171,022,000 after acquiring an additional 81,135 shares in the last quarter. Hamlin Capital Management LLC boosted its holdings in shares of Enterprise Products Partners by 1.8% in the second quarter. Hamlin Capital Management LLC now owns 4,995,047 shares of the oil and gas producer’s stock valued at $154,896,000 after acquiring an additional 89,987 shares in the last quarter. Finally, BROOKFIELD Corp ON boosted its holdings in shares of Enterprise Products Partners by 2.8% in the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock valued at $160,416,000 after acquiring an additional 128,545 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Insider Buying and Selling

In other news, Director William C. Montgomery acquired 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average price of $31.55 per share, with a total value of $504,800.00. Following the purchase, the director owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. This trade represents a 13.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average cost of $31.35 per share, with a total value of $470,250.00. Following the purchase, the director directly owned 158,586 shares in the company, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company’s stock.

Enterprise Products Partners Trading Up 0.2%

Shares of NYSE:EPD opened at $31.00 on Monday. The stock has a market capitalization of $67.13 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 2.21 and a beta of 0.64. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The company has a 50 day moving average price of $31.45 and a 200 day moving average price of $31.29.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The business had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The company’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $0.545 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a yield of 7.0%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.04%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EPD shares. Barclays decreased their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. TD Cowen started coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 price objective for the company. Morgan Stanley decreased their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Saturday. Finally, Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

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.