Cwm LLC Boosts Position in Enterprise Products Partners L.P. (NYSE:EPD)

Cwm LLC raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 39.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,454 shares of the oil and gas producer’s stock after buying an additional 18,634 shares during the quarter. Cwm LLC’s holdings in Enterprise Products Partners were worth $1,926,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Accordant Advisory Group Inc purchased a new position in Enterprise Products Partners during the 1st quarter valued at about $26,000. Burkett Financial Services LLC purchased a new position in shares of Enterprise Products Partners during the fourth quarter worth about $28,000. Stephens Consulting LLC purchased a new position in shares of Enterprise Products Partners during the first quarter worth about $29,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the first quarter worth about $29,000. Finally, First Command Advisory Services Inc. grew its holdings in shares of 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 worth $47,000 after purchasing an additional 913 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 2.5 %

EPD stock traded down $0.74 during midday trading on Friday, hitting $28.59. The company had a trading volume of 3,702,568 shares, compared to its average volume of 4,557,697. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The stock’s 50 day moving average price is $28.97 and its 200 day moving average price is $28.44. The stock has a market cap of $62.08 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.33 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced 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 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%. Enterprise Products Partners’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 EPS. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.35%. The ex-dividend date of this dividend is Wednesday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Analyst Upgrades and Downgrades

Several research analysts have recently 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 report on Wednesday, July 31st. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. cut their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Finally, Morgan Stanley cut their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus 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.