Axxcess Wealth Management LLC Buys 5,571 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Axxcess Wealth Management LLC boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 59.9% in the 2nd quarter, Holdings Channel reports. The firm owned 14,871 shares of the oil and gas producer’s stock after acquiring an additional 5,571 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Enterprise Products Partners were worth $431,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Blackstone Inc. raised its stake in Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after purchasing an additional 1,391,370 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Enterprise Products Partners by 4.8% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after acquiring an additional 741,237 shares during the last quarter. Energy Income Partners LLC grew its position in Enterprise Products Partners by 0.9% in the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock worth $455,761,000 after acquiring an additional 142,689 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its stake in Enterprise Products Partners by 2.6% in the first quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock valued at $326,091,000 after acquiring an additional 284,772 shares during the last quarter. Finally, Chickasaw Capital Management LLC raised its holdings in shares of Enterprise Products Partners by 1.6% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer’s stock valued at $159,901,000 after buying an additional 87,930 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

EPD has been the topic of several research reports. Morgan Stanley decreased 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 note on Monday, June 10th. Truist Financial lifted their target price 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. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Two equities 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Stock Down 0.3 %

Shares of NYSE EPD opened at $29.30 on Friday. 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 fifty day simple moving average of $29.22 and a two-hundred day simple moving average of $28.89. The firm has a market capitalization of $63.62 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its quarterly 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 firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Equities analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current 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 given a $0.525 dividend. This is a boost 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 7.17%. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s payout ratio is currently 82.35%.

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.