Creative Planning Has $23.86 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Creative Planning increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 13.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 823,347 shares of the oil and gas producer’s stock after acquiring an additional 98,827 shares during the quarter. Creative Planning’s holdings in Enterprise Products Partners were worth $23,861,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EPD. Jones Financial Companies Lllp acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $52,000. CWA Asset Management Group LLC grew its holdings in shares of Enterprise Products Partners by 14.5% during the 4th quarter. CWA Asset Management Group LLC now owns 22,955 shares of the oil and gas producer’s stock worth $605,000 after purchasing an additional 2,912 shares in the last quarter. Peapack Gladstone Financial Corp increased its position in shares of Enterprise Products Partners by 0.9% in the fourth quarter. Peapack Gladstone Financial Corp now owns 88,730 shares of the oil and gas producer’s stock worth $2,338,000 after purchasing an additional 801 shares during the period. Cetera Advisor Networks LLC raised its stake in Enterprise Products Partners by 3.2% in the fourth quarter. Cetera Advisor Networks LLC now owns 304,312 shares of the oil and gas producer’s stock valued at $8,019,000 after purchasing an additional 9,575 shares in the last quarter. Finally, Bollard Group LLC lifted its position in Enterprise Products Partners by 1.8% during the fourth quarter. Bollard Group LLC now owns 1,491,605 shares of the oil and gas producer’s stock worth $39,304,000 after purchasing an additional 26,087 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EPD. Morgan Stanley dropped their target price 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 boosted their price objective 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 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 given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Trading Down 0.2 %

NYSE EPD opened at $29.12 on Tuesday. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The business’s 50-day moving average price is $29.16 and its two-hundred day moving average price is $28.94. The firm has a market capitalization of $63.22 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.50 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 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter in the previous year, the company earned $0.57 EPS. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced 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. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.21%. Enterprise Products Partners’s dividend payout ratio is presently 82.35%.

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.