Mission Wealth Management LP Has $1.73 Million Stock Position in Enterprise Products Partners L.P. $EPD

Mission Wealth Management LP raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 45.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,100 shares of the oil and gas producer’s stock after purchasing an additional 14,827 shares during the quarter. Mission Wealth Management LP’s holdings in Enterprise Products Partners were worth $1,731,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Palisade Asset Management LLC purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth about $31,000. Kestra Investment Management LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at approximately $48,000. State of Wyoming acquired a new position in Enterprise Products Partners in the second quarter worth approximately $54,000. Tucker Asset Management LLC bought a new position in Enterprise Products Partners during the fourth quarter valued at approximately $55,000. Finally, West Paces Advisors Inc. bought a new position in Enterprise Products Partners during the second quarter valued at approximately $55,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $37.86 on Thursday. The stock has a market capitalization of $81.76 billion, a P/E ratio of 13.15, a PEG ratio of 1.36 and a beta of 0.49. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The stock has a 50 day moving average price of $37.56 and a two-hundred day moving average price of $37.29. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.80%. The company had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same quarter last year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was up 60.8% compared to the same quarter last year. Equities analysts expect that Enterprise Products Partners L.P. will post 2.96 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.56 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, July 31st. This represents a $2.24 annualized dividend and a yield of 5.9%. Enterprise Products Partners’s payout ratio is 77.78%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Morgan Stanley set a $40.00 target price on shares of Enterprise Products Partners and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. The Goldman Sachs Group restated a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. UBS Group reiterated a “buy” rating and issued a $45.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Finally, Scotiabank restated a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $39.93.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.