16,730 Shares in Enterprise Products Partners L.P. $EPD Purchased by Leading Edge Financial Planning LLC

Leading Edge Financial Planning LLC purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 16,730 shares of the oil and gas producer’s stock, valued at approximately $615,000. Enterprise Products Partners accounts for about 0.1% of Leading Edge Financial Planning LLC’s portfolio, making the stock its 16th largest position.

Other hedge funds also recently added to or reduced their stakes in the company. Alps Advisors Inc. lifted its holdings in shares of Enterprise Products Partners by 0.6% during the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock worth $1,367,011,000 after purchasing an additional 260,305 shares during the period. Auto Owners Insurance Co increased its stake in Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after buying an additional 31,060,000 shares during the period. Morgan Stanley increased its stake in Enterprise Products Partners by 4.8% in the 4th quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock valued at $612,870,000 after buying an additional 883,983 shares during the period. Goldman Sachs Group Inc. raised its position in 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 worth $582,317,000 after buying an additional 1,940,583 shares during the last quarter. Finally, Energy Income Partners LLC raised its position in Enterprise Products Partners by 0.6% during the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock worth $459,829,000 after buying an additional 80,884 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EPD. Stifel Nicolaus lifted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Scotiabank reiterated a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Finally, UBS Group reissued a “buy” rating and set a $45.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.93.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $38.84 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The stock has a market cap of $83.88 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.39 and a beta of 0.49. The firm’s fifty day simple moving average is $37.58 and its 200-day simple moving average is $37.34.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 earnings per share. Analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. 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. Enterprise Products Partners’s dividend payout ratio is 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.