Occidental Asset Management LLC Makes New Investment in Enterprise Products Partners L.P. $EPD

Occidental Asset Management LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 25,070 shares of the oil and gas producer’s stock, valued at approximately $922,000.

Several other hedge funds have also recently modified their holdings of the business. Everest Financial Group LLC boosted its stake in shares of Enterprise Products Partners by 3.6% during the first quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock valued at $298,000 after purchasing an additional 271 shares in the last quarter. Walker Asset Management LLC increased its holdings in Enterprise Products Partners by 1.4% during the second quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock valued at $745,000 after buying an additional 282 shares during the period. Hobbs Group Advisors LLC raised its stake in Enterprise Products Partners by 1.4% in the first quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock worth $791,000 after buying an additional 298 shares in the last quarter. Hunter Associates Investment Management LLC lifted its holdings in Enterprise Products Partners by 3.8% during the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock worth $307,000 after buying an additional 300 shares during the period. Finally, Mission Wealth Management LP lifted its holdings in Enterprise Products Partners by 1.0% during the fourth quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after buying an additional 328 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $38.61 on Tuesday. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The firm has a market capitalization of $83.38 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.30 and a beta of 0.49. The stock’s 50-day simple moving average is $37.60 and its 200-day simple moving average is $37.41.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. Enterprise Products Partners’s revenue was up 60.8% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.56 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is 77.78%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EPD. Stifel Nicolaus lifted their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Scotiabank restated a “sector perform” rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. UBS Group reaffirmed a “buy” rating and set a $45.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $39.93.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.