Synergy Asset Management LLC Takes Position in Enterprise Products Partners L.P. (NYSE:EPD)

Synergy Asset Management LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 171,876 shares of the oil and gas producer’s stock, valued at approximately $4,981,000.

Other hedge funds also recently bought and sold shares of the company. Natixis Advisors L.P. purchased a new stake in Enterprise Products Partners in the fourth quarter worth about $314,000. Aveo Capital Partners LLC lifted its stake in shares of Enterprise Products Partners by 1.3% in the 4th quarter. Aveo Capital Partners LLC now owns 55,566 shares of the oil and gas producer’s stock valued at $1,464,000 after purchasing an additional 716 shares during the period. Wealthcare Advisory Partners LLC bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $293,000. Heritage Investors Management Corp bought a new position in Enterprise Products Partners in the fourth quarter worth $747,000. Finally, Montag A & Associates Inc. boosted its holdings in shares of Enterprise Products Partners by 98.2% during the 4th quarter. Montag A & Associates Inc. now owns 5,550 shares of the oil and gas producer’s stock valued at $146,000 after buying an additional 2,750 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EPD. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Morgan Stanley cut their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. JPMorgan Chase & Co. lowered their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Finally, Truist Financial increased their target price 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. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.08.

Enterprise Products Partners Price Performance

NYSE EPD traded down $0.03 on Friday, reaching $29.00. The company had a trading volume of 113,783 shares, compared to its average volume of 4,503,046. The firm’s 50 day moving average price is $29.18 and its 200 day moving average price is $28.75. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05. The stock has a market capitalization of $62.98 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results 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 return on equity of 20.13% and a net margin of 10.48%. The business 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 firm posted $0.57 EPS. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 7.24%. The ex-dividend date of this dividend was Wednesday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio is 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.