Parallel Advisors LLC Boosts Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Parallel Advisors LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 8.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,635 shares of the oil and gas producer’s stock after acquiring an additional 3,409 shares during the quarter. Parallel Advisors LLC’s holdings in Enterprise Products Partners were worth $1,323,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its position in shares of Enterprise Products Partners by 2.2% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 545,928 shares of the oil and gas producer’s stock worth $15,821,000 after buying an additional 11,775 shares in the last quarter. Main Street Financial Solutions LLC lifted its holdings in Enterprise Products Partners by 9.7% during the second quarter. Main Street Financial Solutions LLC now owns 8,730 shares of the oil and gas producer’s stock worth $253,000 after acquiring an additional 770 shares during the period. BOKF NA boosted its position in Enterprise Products Partners by 1.9% in the second quarter. BOKF NA now owns 84,586 shares of the oil and gas producer’s stock worth $2,451,000 after purchasing an additional 1,598 shares during the last quarter. Bahl & Gaynor Inc. grew its stake in Enterprise Products Partners by 6.7% in the 2nd quarter. Bahl & Gaynor Inc. now owns 7,974 shares of the oil and gas producer’s stock valued at $231,000 after purchasing an additional 500 shares during the period. Finally, LPL Financial LLC increased its position in shares of Enterprise Products Partners by 3.1% during the 2nd quarter. LPL Financial LLC now owns 2,761,031 shares of the oil and gas producer’s stock valued at $80,015,000 after purchasing an additional 83,435 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Up 0.7 %

NYSE:EPD opened at $29.62 on Monday. The company has a market cap of $64.32 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The stock’s fifty day moving average price is $29.20 and its two-hundred day moving average price is $28.84.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter in the prior year, the business earned $0.57 EPS. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.10 annualized dividend 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 payout ratio is currently 82.35%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EPD. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley lowered their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.08.

About Enterprise Products Partners

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.