Occidental Asset Management LLC Invests $922,000 in Enterprise Products Partners L.P. $EPD

Occidental Asset Management LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 25,070 shares of the oil and gas producer’s stock, valued at approximately $922,000.

Other institutional investors also recently bought and sold shares of the company. Auto Owners Insurance Co boosted its stake in Enterprise Products Partners by 3,106.0% during the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after buying an additional 31,060,000 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Enterprise Products Partners by 12.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after acquiring an additional 1,940,583 shares during the period. Deutsche Bank AG bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth about $67,915,000. Corient Private Wealth LLC lifted its holdings in shares of Enterprise Products Partners by 119.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock worth $74,859,000 after acquiring an additional 1,313,976 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Enterprise Products Partners by 57.5% during the 4th quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock worth $93,874,000 after purchasing an additional 1,069,304 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EPD has been the topic of several analyst reports. Citigroup reiterated a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. The Goldman Sachs Group reissued a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. TD Cowen reaffirmed a “hold” rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Wall Street Zen upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Stifel Nicolaus raised their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.93.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $38.61 on Tuesday. The firm has a market cap of $83.38 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. The firm’s 50 day simple moving average is $37.60 and its 200-day simple moving average is $37.41. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The company’s revenue was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.56 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. Enterprise Products Partners’s dividend payout ratio is presently 77.78%.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.