First Eagle Investment Management LLC Acquires 16,555 Shares of Enterprise Products Partners L.P. $EPD

First Eagle Investment Management LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,958,036 shares of the oil and gas producer’s stock after purchasing an additional 16,555 shares during the period. First Eagle Investment Management LLC’s holdings in Enterprise Products Partners were worth $71,977,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of EPD. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at about $31,000. N.E.W. Advisory Services LLC bought a new position in Enterprise Products Partners during the second quarter worth about $37,000. Bravera Wealth increased its position in Enterprise Products Partners by 666.7% during the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after buying an additional 900 shares during the last quarter. Markowski Investments acquired a new position in Enterprise Products Partners during the second quarter worth approximately $46,000. Finally, BOK Financial Private Wealth Inc. bought a new stake in Enterprise Products Partners in the second quarter valued at approximately $48,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Trading Up 0.1%

Shares of Enterprise Products Partners stock opened at $38.97 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17. The company has a market capitalization of $84.15 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.42 and a beta of 0.50. The firm’s 50-day moving average price is $38.14 and its two-hundred day moving average price is $37.78.

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. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same period in the previous year, the business earned $0.66 earnings per share. The company’s revenue was up 60.8% on a year-over-year basis. On average, analysts forecast 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. Stockholders of record on Friday, July 31st were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 5.7%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

Analysts Set New Price Targets

EPD has been the topic of a number of research analyst reports. Wall Street Zen upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. TD Cowen reissued a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. JPMorgan Chase & Co. raised their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Scotiabank reaffirmed 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 assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

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.