Coastal Bridge Advisors LLC Takes $506,000 Position in Enterprise Products Partners L.P. $EPD

Coastal Bridge Advisors LLC purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,766 shares of the oil and gas producer’s stock, valued at approximately $506,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the third quarter worth approximately $31,000. N.E.W. Advisory Services LLC bought a new position in Enterprise Products Partners in the second quarter worth approximately $37,000. Bravera Wealth raised its position in Enterprise Products Partners by 666.7% during the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after purchasing an additional 900 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Enterprise Products Partners during the 2nd quarter valued at $48,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter worth $48,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $38.97 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a market cap of $84.15 billion, a PE ratio of 13.53, a PEG ratio of 1.28 and a beta of 0.49. The business’s fifty day simple moving average is $37.89 and its 200-day simple moving average is $37.66. 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 posted its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 earnings per share. Analysts expect that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 5.7%. The ex-dividend date was Friday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on EPD shares. TD Cowen restated a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. The Goldman Sachs Group reissued a “neutral” rating and set a $38.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Citigroup reiterated a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

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.