Optimist Retirement Group LLC Has $1.88 Million Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Optimist Retirement Group LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 64,928 shares of the oil and gas producer’s stock after buying an additional 468 shares during the period. Optimist Retirement Group LLC’s holdings in Enterprise Products Partners were worth $1,882,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JRM Investment Counsel LLC raised its holdings in Enterprise Products Partners by 2.1% during the fourth quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after acquiring an additional 10,404 shares in the last quarter. Linscomb & Williams Inc. raised its stake in shares of Enterprise Products Partners by 16.6% during the 4th quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock worth $5,399,000 after purchasing an additional 29,112 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Enterprise Products Partners by 37.5% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 881,700 shares of the oil and gas producer’s stock valued at $23,233,000 after buying an additional 240,300 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Enterprise Products Partners by 19.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after buying an additional 3,770 shares in the last quarter. Finally, Platform Technology Partners increased its holdings in Enterprise Products Partners by 14.4% during the fourth quarter. Platform Technology Partners now owns 27,245 shares of the oil and gas producer’s stock worth $722,000 after buying an additional 3,426 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on EPD shares. Morgan Stanley cut their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Truist Financial raised 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 note on Wednesday, July 31st. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Two 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $29.48 on Thursday. The firm has a market cap of $64.02 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The business’s 50 day moving average is $29.22 and its 200-day moving average is $28.87. 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 1-year low of $25.61 and a 1-year high of $30.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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 firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a $0.525 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.12%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is currently 82.35%.

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.