Bluefin Capital Management LLC Makes New Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Bluefin Capital Management LLC bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,200 shares of the oil and gas producer’s stock, valued at approximately $498,000.

A number of other institutional investors have also recently added to or reduced their stakes in EPD. Cadence Bank increased its holdings in 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 grew its holdings in Enterprise Products Partners by 1.3% during the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after acquiring an additional 372 shares during the period. Advisor OS LLC grew its stake 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 valued at $854,000 after buying an additional 379 shares during the period. Ellsworth Advisors LLC increased its position in Enterprise Products Partners by 1.8% in the 2nd quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock valued at $636,000 after buying an additional 383 shares in the last quarter. Finally, Stokes Family Office LLC grew its stake in 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 acquiring an additional 399 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on EPD shares. Truist Financial raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Morgan Stanley dropped their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.08.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $29.32 on Wednesday. The company has a market cap of $63.66 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.50 and a beta of 1.03. The firm’s fifty day moving average is $29.14 and its 200 day moving average is $28.94. 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 52-week low of $25.61 and a 52-week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly 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 return on equity of 20.13% and a net margin of 10.48%. The company had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same period in the prior year, the business earned $0.57 EPS. The company’s quarterly revenue was up 26.6% on a year-over-year basis. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued 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 7.16%. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) 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.