Bradley Foster & Sargent Inc. CT Grows Position in Enterprise Products Partners L.P. (NYSE:EPD)

Bradley Foster & Sargent Inc. CT boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.4% during the 2nd quarter, Holdings Channel reports. The firm owned 219,755 shares of the oil and gas producer’s stock after acquiring an additional 924 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Enterprise Products Partners were worth $6,368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of EPD. Hantz Financial Services Inc. purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at $25,000. Burkett Financial Services LLC acquired a new position in Enterprise Products Partners during the fourth quarter worth $28,000. 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. Finally, Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners during the second quarter worth $29,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.1 %

Shares of EPD opened at $29.48 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05. The firm has a 50-day moving average price of $29.22 and a 200 day moving average price of $28.87. The firm has a market capitalization of $64.02 billion, a P/E ratio of 11.56, a P/E/G ratio of 1.49 and a beta of 1.03.

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

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.12%. The ex-dividend date of this dividend was Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EPD. Morgan Stanley reduced their price objective on shares of 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. 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, StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.08.

Enterprise Products Partners 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.