OneDigital Investment Advisors LLC Takes Position in Enterprise Products Partners L.P. $EPD

OneDigital Investment Advisors LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 45,480 shares of the oil and gas producer’s stock, valued at approximately $1,672,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Everest Financial Group LLC raised its holdings in Enterprise Products Partners by 3.6% in the first quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock worth $298,000 after purchasing an additional 271 shares in the last quarter. Walker Asset Management LLC boosted its holdings in shares of Enterprise Products Partners by 1.4% during the 2nd quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock valued at $745,000 after buying an additional 282 shares in the last quarter. Hobbs Group Advisors LLC grew its position in shares of Enterprise Products Partners by 1.4% in the 1st quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock worth $791,000 after buying an additional 298 shares during the period. Hunter Associates Investment Management LLC grew its position in shares of Enterprise Products Partners by 3.8% in the 1st quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock worth $307,000 after buying an additional 300 shares during the period. Finally, Mission Wealth Management LP increased its stake in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after acquiring an additional 328 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $38.61 on Tuesday. The company has a market capitalization of $83.38 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. 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 L.P. has a one year low of $30.01 and a one year high of $40.17. The company’s 50-day moving average is $37.60 and its 200 day moving average is $37.41.

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

Enterprise Products Partners Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. lifted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. TD Cowen reissued a “hold” rating and issued a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Finally, UBS Group restated a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average price target of $39.93.

Enterprise Products Partners Company 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.