Fiducient Advisors LLC Acquires 8,643 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Fiducient Advisors LLC lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 18.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,358 shares of the oil and gas producer’s stock after acquiring an additional 8,643 shares during the quarter. Fiducient Advisors LLC’s holdings in Enterprise Products Partners were worth $1,633,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EPD. Acadian Asset Management LLC raised its stake in Enterprise Products Partners by 19.0% in the second quarter. Acadian Asset Management LLC now owns 252,830 shares of the oil and gas producer’s stock worth $7,322,000 after buying an additional 40,280 shares in the last quarter. Asset Dedication LLC boosted its position in Enterprise Products Partners by 2.1% during the 2nd quarter. Asset Dedication LLC now owns 40,204 shares of the oil and gas producer’s stock valued at $1,165,000 after acquiring an additional 845 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Enterprise Products Partners by 2,838.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 517,383 shares of the oil and gas producer’s stock worth $150,000 after acquiring an additional 499,775 shares during the period. Tortoise Capital Advisors L.L.C. raised its position in shares of Enterprise Products Partners by 4.8% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after acquiring an additional 741,237 shares in the last quarter. Finally, Advisor OS LLC lifted its stake in shares of Enterprise Products Partners by 1.3% in the 2nd quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock valued at $854,000 after purchasing an additional 379 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.6 %

NYSE:EPD opened at $28.87 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The firm has a market cap of $62.69 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.50 and a beta of 1.03. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The firm has a 50-day simple moving average of $29.18 and a two-hundred day simple moving average of $28.77.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. Enterprise Products Partners’s revenue was up 26.6% on a year-over-year basis. During the same period last year, the business earned $0.57 EPS. Analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.525 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.27%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is currently 82.35%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley reduced their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. Truist Financial increased their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price target on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Finally, StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.08.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.