Callan Capital LLC Acquires 7,671 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Callan Capital LLC increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 32.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,057 shares of the oil and gas producer’s stock after buying an additional 7,671 shares during the period. Callan Capital LLC’s holdings in Enterprise Products Partners were worth $900,000 at the end of the most recent quarter.

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 valued at approximately $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. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.4 %

Shares of Enterprise Products Partners stock opened at $29.38 on Friday. The company has a market capitalization of $63.80 billion, a price-to-earnings ratio of 11.52, a PEG 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 12-month low of $25.61 and a 12-month high of $30.05. The firm’s 50-day moving average price is $29.22 and its two-hundred day moving average price is $28.87.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.57 earnings per share. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.525 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.15%. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EPD shares. Truist Financial upped their price target on shares of 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 lowered shares of 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 shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

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.