D.A. Davidson & CO. Has $18 Million Holdings in Enterprise Products Partners L.P. $EPD

D.A. Davidson & CO. raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 489,584 shares of the oil and gas producer’s stock after purchasing an additional 12,990 shares during the period. D.A. Davidson & CO.’s holdings in Enterprise Products Partners were worth $17,997,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Everest Financial Group LLC boosted its stake in shares of Enterprise Products Partners by 3.6% during the first quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock valued at $298,000 after purchasing an additional 271 shares in the last quarter. Walker Asset Management LLC increased its stake in shares of Enterprise Products Partners by 1.4% in the second quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock valued at $745,000 after buying an additional 282 shares during the period. Hobbs Group Advisors LLC raised its holdings in Enterprise Products Partners by 1.4% in the 1st quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock valued at $791,000 after buying an additional 298 shares during the last quarter. Hunter Associates Investment Management LLC boosted its position in Enterprise Products Partners by 3.8% during the 1st quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock worth $307,000 after buying an additional 300 shares during the period. Finally, Mission Wealth Management LP boosted its position in Enterprise Products Partners by 1.0% during the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after buying an additional 328 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EPD has been the topic of several analyst reports. Citigroup reissued a “buy” rating and issued a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. JPMorgan Chase & Co. increased their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Truist Financial raised their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.93.

Enterprise Products Partners Trading Up 2.2%

EPD opened at $38.84 on Friday. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The company has a quick ratio of 0.61, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The company has a fifty day moving average of $37.58 and a 200-day moving average of $37.34. The stock has a market cap of $83.88 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.35 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last released its earnings results 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 business had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. Enterprise Products Partners’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.56 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 5.8%. Enterprise Products Partners’s dividend payout ratio is 77.78%.

About Enterprise Products Partners

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.