AlphaStar Capital Management LLC Grows Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

AlphaStar Capital Management LLC lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,180 shares of the oil and gas producer’s stock after purchasing an additional 556 shares during the quarter. AlphaStar Capital Management LLC’s holdings in Enterprise Products Partners were worth $266,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of EPD. Cadence Bank grew its holdings in Enterprise Products Partners by 0.7% during the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after acquiring an additional 365 shares during the period. McAdam LLC lifted its position in shares of Enterprise Products Partners by 1.3% in the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock valued at $831,000 after acquiring an additional 372 shares in the last quarter. Ellsworth Advisors LLC lifted its position in Enterprise Products Partners by 1.8% during the second quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock worth $636,000 after buying an additional 383 shares during the period. Stokes Family Office LLC lifted its position in Enterprise Products Partners by 2.5% during the second quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock worth $468,000 after buying an additional 399 shares during the period. Finally, Mosaic Family Wealth Partners LLC lifted its position in Enterprise Products Partners by 1.1% during the first quarter. Mosaic Family Wealth Partners LLC now owns 36,460 shares of the oil and gas producer’s stock worth $1,064,000 after buying an additional 407 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Morgan Stanley cut their price objective on 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. cut 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. Finally, Truist Financial raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two equities research 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.08.

Enterprise Products Partners Stock Down 0.7 %

Shares of Enterprise Products Partners stock opened at $29.18 on Wednesday. The business’s fifty day moving average price is $29.11 and its two-hundred day moving average price is $28.64. 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 company has a market capitalization of $63.37 billion, a P/E ratio of 11.44, a PEG ratio of 1.33 and a beta of 1.04. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $30.05.

Enterprise Products Partners (NYSE:EPD) last announced its 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). The business had revenue of $13.48 billion for 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 20.18%. The firm’s revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.525 per share. The ex-dividend date was Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 7.20%. 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.