Summit Securities Group LLC Purchases 1,700 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Summit Securities Group LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 850.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,900 shares of the oil and gas producer’s stock after acquiring an additional 1,700 shares during the period. Summit Securities Group LLC’s holdings in Enterprise Products Partners were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Burkett Financial Services LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth approximately $28,000. Stephens Consulting LLC bought a new stake in shares of Enterprise Products Partners during the 1st quarter worth $29,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners in the first quarter worth $29,000. MFA Wealth Advisors LLC bought a new position in Enterprise Products Partners in the second quarter valued at $37,000. Finally, First Command Advisory Services Inc. raised its position in Enterprise Products Partners by 130.4% during the first quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock valued at $47,000 after purchasing an additional 913 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EPD shares. JPMorgan Chase & Co. decreased their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley reduced 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 report on Monday, June 10th. Finally, StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.08.

Enterprise Products Partners Trading Down 0.1 %

Shares of NYSE EPD traded down $0.04 during midday trading on Tuesday, hitting $29.35. 481,092 shares of the company traded hands, compared to its average volume of 4,577,917. The stock has a 50-day moving average price of $29.11 and a 200 day moving average price of $28.64. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. The firm has a market cap of $63.74 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.33 and a beta of 1.04. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.18%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 EPS. As a group, analysts expect 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 declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.525 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) 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.