Delta Investment Management LLC Purchases 6,386 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Delta Investment Management LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 292,594 shares of the oil and gas producer’s stock after buying an additional 6,386 shares during the quarter. Enterprise Products Partners accounts for 1.9% of Delta Investment Management LLC’s investment portfolio, making the stock its 14th biggest holding. Delta Investment Management LLC’s holdings in Enterprise Products Partners were worth $8,479,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cadence Bank raised its position in shares of Enterprise Products Partners by 0.7% in the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after purchasing an additional 365 shares during the period. McAdam LLC raised its position in shares of Enterprise Products Partners by 1.3% in the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock valued at $831,000 after purchasing an additional 372 shares during the period. Advisor OS LLC raised its position in shares of Enterprise Products Partners by 1.3% in the second quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock valued at $854,000 after purchasing an additional 379 shares during the period. Ellsworth Advisors LLC raised its position in shares of Enterprise Products Partners by 1.8% in the second 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 during the period. Finally, Stokes Family Office LLC raised its position in shares of Enterprise Products Partners by 2.5% in 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 purchasing an additional 399 shares during the period. 26.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Truist Financial increased 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. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, 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. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Trading Down 0.9 %

Shares of Enterprise Products Partners stock opened at $29.25 on Thursday. The company has a market capitalization of $63.48 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.50 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 $28.92.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS 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 return on equity of 20.13% and a net margin of 10.48%. The firm’s revenue was up 26.6% compared to the same quarter last year. During the same period last year, the company posted $0.57 EPS. 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 announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a $0.525 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.18%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio is 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.