350,000 Shares in Enterprise Products Partners L.P. $EPD Bought by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 350,000 shares of the oil and gas producer’s stock, valued at approximately $12,866,000.

Other institutional investors also recently made changes to their positions in the company. Auto Owners Insurance Co grew its stake in shares of Enterprise Products Partners by 3,106.0% during the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after purchasing an additional 31,060,000 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Enterprise Products Partners by 12.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after acquiring an additional 1,940,583 shares during the period. Corient Private Wealth LLC lifted its position in shares of Enterprise Products Partners by 119.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock valued at $74,859,000 after acquiring an additional 1,313,976 shares during the period. Barclays PLC boosted its stake in shares of Enterprise Products Partners by 57.5% during the 4th quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock worth $93,874,000 after acquiring an additional 1,069,304 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. grew its holdings in shares of Enterprise Products Partners by 5,743.2% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 1,019,056 shares of the oil and gas producer’s stock worth $32,671,000 after acquiring an additional 1,001,616 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on EPD shares. Truist Financial raised their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Morgan Stanley set a $40.00 price target on Enterprise Products Partners and gave the company an “underweight” rating in a research report on Tuesday, July 21st. TD Cowen reaffirmed a “hold” rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Citigroup reiterated a “buy” rating and issued a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Finally, UBS Group restated a “buy” rating and set a $45.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.93.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $38.09 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The stock has a fifty day moving average of $37.56 and a two-hundred day moving average of $37.33. The company has a market capitalization of $82.24 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.36 and a beta of 0.49. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.The company had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.96 EPS for the current fiscal 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 paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is presently 77.78%.

Enterprise Products Partners Company 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.