Carolinas Wealth Consulting LLC Purchases 3,720 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Carolinas Wealth Consulting LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 123.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,744 shares of the oil and gas producer’s stock after purchasing an additional 3,720 shares during the period. Carolinas Wealth Consulting LLC’s holdings in Enterprise Products Partners were worth $195,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Blair William & Co. IL grew its holdings in shares of Enterprise Products Partners by 45.7% in the second quarter. Blair William & Co. IL now owns 854,932 shares of the oil and gas producer’s stock worth $24,776,000 after purchasing an additional 268,108 shares during the last quarter. Zega Financial LLC lifted its stake in Enterprise Products Partners by 10.0% in the second quarter. Zega Financial LLC now owns 20,526 shares of the oil and gas producer’s stock worth $595,000 after acquiring an additional 1,862 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in Enterprise Products Partners by 9.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 142,512 shares of the oil and gas producer’s stock worth $4,110,000 after acquiring an additional 12,015 shares during the period. Argent Trust Co lifted its stake in Enterprise Products Partners by 3.4% in the second quarter. Argent Trust Co now owns 131,460 shares of the oil and gas producer’s stock worth $3,810,000 after acquiring an additional 4,353 shares during the period. Finally, Bradley Foster & Sargent Inc. CT lifted its stake in Enterprise Products Partners by 0.4% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 219,755 shares of the oil and gas producer’s stock worth $6,368,000 after acquiring an additional 924 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on EPD shares. Morgan Stanley dropped their price target 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 target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock 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 note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Price Performance

EPD opened at $29.48 on Thursday. The stock has a 50-day moving average price of $29.22 and a 200-day moving average price of $28.87. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The firm has a market cap of $64.02 billion, a PE ratio of 11.56, a P/E/G ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly 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). The company had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 EPS. Sell-side 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 business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 7.12%. The ex-dividend date was Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is currently 82.35%.

About Enterprise Products Partners

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.