Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Ausdal Financial Partners Inc.

Ausdal Financial Partners Inc. boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,820 shares of the oil and gas producer’s stock after acquiring an additional 1,332 shares during the quarter. Ausdal Financial Partners Inc.’s holdings in Enterprise Products Partners were worth $1,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new position in Enterprise Products Partners in the second quarter valued at $25,000. Burkett Financial Services LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth about $28,000. Stephens Consulting LLC acquired a new position in shares of Enterprise Products Partners during the first quarter worth about $29,000. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners during the first quarter worth about $29,000. Finally, Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners during the second quarter worth about $29,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.6 %

Enterprise Products Partners stock traded down $0.16 during midday trading on Friday, hitting $28.87. The stock had a trading volume of 2,764,727 shares, compared to its average volume of 4,518,434. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The stock has a market cap of $62.69 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.50 and a beta of 1.03. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05. The business has a fifty day moving average price of $29.18 and a 200 day moving average price of $28.77.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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). The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. Research analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.525 per share. The ex-dividend date was Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 7.27%. Enterprise Products Partners’s dividend payout ratio is 82.35%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Truist Financial boosted their price objective 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. JPMorgan Chase & Co. reduced their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Morgan Stanley reduced their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Two 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.08.

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.