Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Copperwynd Financial LLC

Copperwynd Financial LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 12.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,465 shares of the oil and gas producer’s stock after purchasing an additional 1,255 shares during the period. Copperwynd Financial LLC’s holdings in Enterprise Products Partners were worth $331,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Creative Planning boosted its stake in shares of Enterprise Products Partners by 13.6% during the 2nd quarter. Creative Planning now owns 823,347 shares of the oil and gas producer’s stock valued at $23,861,000 after buying an additional 98,827 shares during the last quarter. Smith Thornton Advisors LLC acquired a new stake in Enterprise Products Partners in the second quarter valued at $210,000. Daymark Wealth Partners LLC boosted its stake in Enterprise Products Partners by 259.5% during the 2nd quarter. Daymark Wealth Partners LLC now owns 96,440 shares of the oil and gas producer’s stock valued at $2,795,000 after acquiring an additional 69,611 shares during the last quarter. Delta Investment Management LLC grew its holdings in Enterprise Products Partners by 2.2% during the 2nd quarter. Delta Investment Management LLC now owns 292,594 shares of the oil and gas producer’s stock worth $8,479,000 after acquiring an additional 6,386 shares in the last quarter. Finally, Elgethun Capital Management increased its position in shares of Enterprise Products Partners by 1.2% in the 2nd quarter. Elgethun Capital Management now owns 95,727 shares of the oil and gas producer’s stock worth $2,774,000 after purchasing an additional 1,180 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD stock opened at $29.18 on Friday. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The stock has a market capitalization of $63.37 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.50 and a beta of 1.03. 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 stock’s fifty day moving average is $29.17 and its two-hundred day moving average is $28.93.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data 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). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter in the prior year, the business earned $0.57 earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.525 per share. The ex-dividend date was Wednesday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 7.20%. Enterprise Products Partners’s payout ratio is currently 82.35%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. 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 report on Wednesday, July 31st. Morgan Stanley decreased their target price on 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. Finally, StockNews.com downgraded 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners presently 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.