Collaborative Wealth Managment Inc. Raises Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Collaborative Wealth Managment Inc. boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 7.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,841 shares of the oil and gas producer’s stock after purchasing an additional 1,209 shares during the quarter. Collaborative Wealth Managment Inc.’s holdings in Enterprise Products Partners were worth $517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of EPD. Natixis Advisors L.P. bought a new position in shares of Enterprise Products Partners during the 4th quarter valued at about $314,000. Aveo Capital Partners LLC raised its stake in shares of Enterprise Products Partners by 1.3% during the fourth quarter. Aveo Capital Partners LLC now owns 55,566 shares of the oil and gas producer’s stock worth $1,464,000 after acquiring an additional 716 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Enterprise Products Partners by 37.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,233 shares of the oil and gas producer’s stock worth $349,000 after acquiring an additional 3,638 shares during the last quarter. American National Bank purchased a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $49,000. Finally, NorthRock Partners LLC grew its holdings in shares of Enterprise Products Partners by 10.0% during the 4th quarter. NorthRock Partners LLC now owns 17,824 shares of the oil and gas producer’s stock valued at $470,000 after purchasing an additional 1,616 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Morgan Stanley cut their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Truist Financial increased their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $29.62 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $30.05. The stock has a market cap of $64.32 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The firm’s fifty day simple moving average is $29.20 and its 200 day simple moving average is $28.83.

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

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.09%. The ex-dividend date was Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

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.