Enterprise Products Partners L.P. (NYSE:EPD) Position Boosted by Coastline Trust Co

Coastline Trust Co increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 5.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,900 shares of the oil and gas producer’s stock after buying an additional 450 shares during the quarter. Coastline Trust Co’s holdings in Enterprise Products Partners were worth $258,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fermata Advisors LLC acquired a new stake in Enterprise Products Partners in the second quarter worth approximately $249,000. Curated Wealth Partners LLC lifted its position in shares of Enterprise Products Partners by 200.0% during the 2nd quarter. Curated Wealth Partners LLC now owns 16,670 shares of the oil and gas producer’s stock valued at $483,000 after acquiring an additional 33,340 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of Enterprise Products Partners by 12.3% during the 2nd quarter. Sound Income Strategies LLC now owns 11,401 shares of the oil and gas producer’s stock valued at $330,000 after acquiring an additional 1,247 shares during the last quarter. Howard Financial Services LTD. lifted its position in shares of Enterprise Products Partners by 1.7% during the 2nd quarter. Howard Financial Services LTD. now owns 89,172 shares of the oil and gas producer’s stock valued at $2,584,000 after acquiring an additional 1,497 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its position in shares of Enterprise Products Partners by 14.0% during the 2nd quarter. Diversify Advisory Services LLC now owns 13,602 shares of the oil and gas producer’s stock valued at $397,000 after acquiring an additional 1,673 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD traded down $0.42 during mid-day trading on Monday, hitting $28.29. The company had a trading volume of 2,911,281 shares, compared to its average volume of 4,591,613. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The business’s 50-day simple moving average is $28.97 and its 200-day simple moving average is $28.47. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05. The firm has a market cap of $61.43 billion, a P/E ratio of 11.13, a PEG ratio of 1.33 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted 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 for the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 EPS. As a group, 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.525 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.42%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley cut their target price on shares of 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. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price 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.