24,874 Shares in Enterprise Products Partners L.P. $EPD Acquired by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 24,874 shares of the oil and gas producer’s stock, valued at approximately $914,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after buying an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. raised its position in shares of Enterprise Products Partners by 9.3% in the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after buying an additional 5,000 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Enterprise Products Partners by 6.2% in the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock valued at $1,975,000 after buying an additional 3,742 shares during the last quarter. Guggenheim Capital LLC lifted its stake in shares of Enterprise Products Partners by 6.1% in the second quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock worth $847,000 after buying an additional 1,578 shares in the last quarter. Finally, Glenview Trust co lifted its stake in shares of Enterprise Products Partners by 315.8% in the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock worth $1,043,000 after buying an additional 25,555 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the subject of several research reports. UBS Group reaffirmed a “buy” rating and set a $45.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Truist Financial boosted their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 4th. The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Weiss Ratings raised Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. Finally, Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.93.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $38.84 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average price of $37.58 and a 200 day moving average price of $37.37. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17. The stock has a market cap of $83.88 billion, a P/E ratio of 13.49, a PEG ratio of 1.30 and a beta of 0.49.

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

Enterprise Products Partners Increases Dividend

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

About Enterprise Products Partners

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.