Northwestern Mutual Wealth Management Co. Has $6.28 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 46.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 216,741 shares of the oil and gas producer’s stock after purchasing an additional 68,691 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Enterprise Products Partners were worth $6,281,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hantz Financial Services Inc. acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth $25,000. Stephens Consulting LLC acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth $29,000. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners in the 1st quarter valued at $29,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners in the 2nd quarter valued at $29,000. Finally, MFA Wealth Advisors LLC acquired a new position in Enterprise Products Partners in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $29.45 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. 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 fifty day moving average price of $29.14 and a two-hundred day moving average price of $28.94. The company has a market cap of $63.95 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The company had revenue of $13.48 billion during 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 for the quarter was up 26.6% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. 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. Stockholders 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. This represents a $2.10 annualized dividend and a dividend yield of 7.13%. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s payout ratio is 82.35%.

Analysts Set New Price Targets

EPD has been the topic of a number of research analyst reports. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. 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, Morgan Stanley lowered their target price 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. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.08.

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.