Bridgewealth Advisory Group LLC Has $355,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Bridgewealth Advisory Group LLC trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 43.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,243 shares of the oil and gas producer’s stock after selling 9,221 shares during the quarter. Bridgewealth Advisory Group LLC’s holdings in Enterprise Products Partners were worth $355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in EPD. Cadence Bank lifted its stake in Enterprise Products Partners by 0.7% in the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after buying an additional 365 shares during the period. McAdam LLC lifted its position in shares of Enterprise Products Partners by 1.3% during the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock valued at $831,000 after acquiring an additional 372 shares during the period. Advisor OS LLC boosted its stake in Enterprise Products Partners by 1.3% during the second quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock worth $854,000 after acquiring an additional 379 shares in the last quarter. Ellsworth Advisors LLC increased its stake in Enterprise Products Partners by 1.8% in the second quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock valued at $636,000 after purchasing an additional 383 shares in the last quarter. Finally, Stokes Family Office LLC raised its holdings in shares of Enterprise Products Partners by 2.5% during the second quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock valued at $468,000 after purchasing an additional 399 shares during the period. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EPD. Morgan Stanley reduced 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 note on Monday, June 10th. Truist Financial raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.08.

Enterprise Products Partners Trading Down 0.2 %

Shares of Enterprise Products Partners stock opened at $29.32 on Friday. The company has a market capitalization of $63.67 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The stock has a fifty day simple moving average of $29.22 and a 200 day simple moving average of $28.89. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. 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 previous year, the company earned $0.57 EPS. The business’s revenue was up 26.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.16%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

Enterprise Products Partners 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.