Alpha Cubed Investments LLC Buys 1,061 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Alpha Cubed Investments LLC grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,055 shares of the oil and gas producer’s stock after purchasing an additional 1,061 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Enterprise Products Partners were worth $465,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cadence Bank lifted its holdings in shares of Enterprise Products Partners by 0.7% in the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after buying an additional 365 shares in the last quarter. Stokes Family Office LLC raised its stake in Enterprise Products Partners by 2.5% in the second quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock valued at $468,000 after purchasing an additional 399 shares in the last quarter. Mosaic Family Wealth Partners LLC raised its stake in Enterprise Products Partners by 1.1% in the first quarter. Mosaic Family Wealth Partners LLC now owns 36,460 shares of the oil and gas producer’s stock valued at $1,064,000 after purchasing an additional 407 shares in the last quarter. Kozak & Associates Inc. raised its stake in Enterprise Products Partners by 9.8% in the first quarter. Kozak & Associates Inc. now owns 4,633 shares of the oil and gas producer’s stock valued at $133,000 after purchasing an additional 412 shares in the last quarter. Finally, Phillips Wealth Planners LLC raised its stake in Enterprise Products Partners by 3.7% in the first quarter. Phillips Wealth Planners LLC now owns 11,541 shares of the oil and gas producer’s stock valued at $327,000 after purchasing an additional 413 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.1 %

EPD stock traded down $0.03 during midday trading on Tuesday, reaching $28.15. The company’s stock had a trading volume of 933,953 shares, compared to its average volume of 4,598,545. 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 stock has a fifty day simple moving average of $28.97 and a two-hundred day simple moving average of $28.47. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The firm has a market capitalization of $61.13 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.33 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same period in the previous year, the company posted $0.57 EPS. Enterprise Products Partners’s quarterly revenue was up 26.6% compared to the same quarter last year. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a $0.525 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. 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 7.46%. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Analysts Set New Price Targets

Several research firms have commented on EPD. Truist Financial lifted their price target on shares of 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. cut their price target on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Morgan Stanley lowered their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Finally, StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday. 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.08.

About Enterprise Products Partners

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.