Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 9.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,730 shares of the oil and gas producer’s stock after purchasing an additional 770 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Enterprise Products Partners were worth $253,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. acquired a new position in Enterprise Products Partners during the second quarter worth $25,000. Stephens Consulting LLC acquired a new position in Enterprise Products Partners during the first quarter worth $29,000. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners during the first quarter worth $29,000. Mascoma Wealth Management LLC purchased a new position in Enterprise Products Partners during the second quarter worth $29,000. Finally, Burkett Financial Services LLC purchased a new position in Enterprise Products Partners during the fourth quarter worth $28,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EPD shares. Truist Financial raised their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Morgan Stanley dropped their price target 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. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $29.63 on Friday. The company has a market cap of $64.34 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.49 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The business has a fifty day simple moving average of $29.20 and a 200-day simple moving average of $28.82.

Enterprise Products Partners (NYSE:EPD) last issued its 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). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the previous year, the business posted $0.57 EPS. Enterprise Products Partners’s revenue was up 26.6% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.525 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.09%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

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.