Deutsche Bank AG Buys Shares of 1,847,526 Enterprise Products Partners L.P. $EPD

Deutsche Bank AG bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, HoldingsChannel reports. The firm bought 1,847,526 shares of the oil and gas producer’s stock, valued at approximately $67,915,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Perigon Wealth Management LLC acquired a new stake in Enterprise Products Partners during the 2nd quarter worth $3,553,000. Phillips Wealth Planners LLC acquired a new position in Enterprise Products Partners in the second quarter valued at about $324,000. Trust Co. of Vermont bought a new stake in shares of Enterprise Products Partners in the second quarter worth about $129,000. Principle Wealth Partners LLC bought a new stake in shares of Enterprise Products Partners in the second quarter worth about $662,000. Finally, Requisite Capital Management LLC acquired a new stake in shares of Enterprise Products Partners during the second quarter worth about $1,053,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on EPD shares. Morgan Stanley reiterated an “underweight” rating and issued a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday. Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Truist Financial upped their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 4th. Finally, TD Cowen reissued a “hold” rating and set a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $38.41 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The firm has a market cap of $82.95 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 1.26 and a beta of 0.49. The stock’s 50-day moving average is $37.65 and its 200-day moving average is $37.51. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same period last year, the company earned $0.66 earnings per share. Enterprise Products Partners’s quarterly revenue was up 60.8% on a year-over-year basis. Equities analysts predict that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

Enterprise Products Partners 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.