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C2C Wealth Management LLC Increases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Financial News Live · Oct 2, 2022 09:11

C2C Wealth Management LLC raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 3.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 65,001 shares of the oil and gas producer's stock after purchasing an additional 2,095 shares during the quarter. C2C Wealth Management LLC's holdings in Enterprise Products Partners were worth $1,643,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of EPD. Welch & Forbes LLC boosted its holdings in shares of Enterprise Products Partners by 2.3% in the second quarter. Welch & Forbes LLC now owns 27,480 shares of the oil and gas producer's stock valued at $670,000 after purchasing an additional 615 shares during the period. Bogart Wealth LLC boosted its holdings in shares of Enterprise Products Partners by 7.1% in the second quarter. Bogart Wealth LLC now owns 32,100 shares of the oil and gas producer's stock valued at $782,000 after purchasing an additional 2,141 shares during the period. Chicago Capital LLC boosted its holdings in shares of Enterprise Products Partners by 15.2% in the second quarter. Chicago Capital LLC now owns 34,018 shares of the oil and gas producer's stock valued at $829,000 after purchasing an additional 4,500 shares during the period. AM Investment Strategies LLC boosted its holdings in shares of Enterprise Products Partners by 0.5% in the second quarter. AM Investment Strategies LLC now owns 86,920 shares of the oil and gas producer's stock valued at $2,118,000 after purchasing an additional 400 shares during the period. Finally, Guyasuta Investment Advisors Inc. boosted its holdings in shares of Enterprise Products Partners by 7.6% in the second quarter. Guyasuta Investment Advisors Inc. now owns 28,381 shares of the oil and gas producer's stock valued at $692,000 after purchasing an additional 2,010 shares during the period. Hedge funds and other institutional investors own 27.29% of the company's stock.

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Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $23.78 on Friday. The business's fifty day simple moving average is $26.10 and its 200-day simple moving average is $25.95. The company has a market cap of $51.82 billion, a PE ratio of 10.71 and a beta of 1.15. The company has a current ratio of 0.87, a quick ratio of 0.65 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 12-month low of $20.42 and a 12-month high of $28.65.

Enterprise Products Partners (NYSE:EPD – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.01. The business had revenue of $16.06 billion for the quarter, compared to the consensus estimate of $11.96 billion. Enterprise Products Partners had a return on equity of 18.97% and a net margin of 9.54%. The business's quarterly revenue was up 69.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share. Analysts expect that Enterprise Products Partners L.P. will post 2.52 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 Friday, August 12th. Stockholders of record on Friday, July 29th were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, July 28th. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.47. This represents a $1.90 dividend on an annualized basis and a dividend yield of 7.99%. Enterprise Products Partners's dividend payout ratio is presently 85.59%.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford purchased 6,500 shares of Enterprise Products Partners stock in a transaction dated Thursday, August 4th. The shares were acquired at an average cost of $25.78 per share, with a total value of $167,570.00. Following the completion of the transaction, the director now owns 113,941 shares in the company, valued at approximately $2,937,398.98. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 37.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EPD. UBS Group boosted their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the company a "buy" rating in a report on Friday, July 8th. TD Securities boosted their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, August 4th. Finally, Raymond James upped their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a "strong-buy" rating in a report on Thursday, August 4th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of "Moderate Buy" and an average price target of $30.00.

About Enterprise Products Partners

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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.