3,200 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Purchased by Fairscale Capital LLC

Fairscale Capital LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,200 shares of the oil and gas producer’s stock, valued at approximately $95,000.

Several other institutional investors and hedge funds have also bought and sold shares of EPD. Cadence Bank raised its holdings in shares of Enterprise Products Partners by 0.7% during the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after acquiring an additional 365 shares in the last quarter. McAdam LLC raised its holdings in Enterprise Products Partners by 1.3% in the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after purchasing an additional 372 shares in the last quarter. Advisor OS LLC lifted its position in shares of Enterprise Products Partners by 1.3% in the 2nd quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock worth $854,000 after purchasing an additional 379 shares during the period. Ellsworth Advisors LLC boosted its stake in shares of Enterprise Products Partners by 1.8% during the 2nd quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock valued at $636,000 after purchasing an additional 383 shares in the last quarter. Finally, Stokes Family Office LLC increased its position in shares of Enterprise Products Partners by 2.5% during the second quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock valued at $468,000 after buying an additional 399 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.2 %

NYSE:EPD opened at $29.32 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The firm has a market cap of $63.67 billion, a P/E ratio of 11.50, a P/E/G ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The firm has a 50-day simple moving average of $29.22 and a two-hundred day simple moving average of $28.90.

Enterprise Products Partners (NYSE:EPD) last announced 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%. Enterprise Products Partners’s revenue was up 26.6% on a year-over-year basis. During the same period last year, the business earned $0.57 EPS. Analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 7.16%. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EPD. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Morgan Stanley lowered their target price on 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. Finally, Truist Financial upped their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two research 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. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price 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.