Perennial Investment Advisors LLC Makes New $202,000 Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Perennial Investment Advisors LLC acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, Holdings Channel.com reports. The fund acquired 6,961 shares of the oil and gas producer’s stock, valued at approximately $202,000.

A number of other institutional investors have also made changes to their positions in EPD. JRM Investment Counsel LLC lifted its holdings in Enterprise Products Partners by 2.1% in the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after buying an additional 10,404 shares in the last quarter. Linscomb & Williams Inc. boosted its holdings in Enterprise Products Partners by 16.6% in the fourth quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock valued at $5,399,000 after purchasing an additional 29,112 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its holdings in Enterprise Products Partners by 37.5% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 881,700 shares of the oil and gas producer’s stock valued at $23,233,000 after purchasing an additional 240,300 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Enterprise Products Partners by 19.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after purchasing an additional 3,770 shares during the last quarter. Finally, Platform Technology Partners raised its position in shares of Enterprise Products Partners by 14.4% in the 4th quarter. Platform Technology Partners now owns 27,245 shares of the oil and gas producer’s stock valued at $722,000 after purchasing an additional 3,426 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $29.51 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm’s 50-day moving average price is $29.21 and its two-hundred day moving average price is $28.87. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $30.05. The stock has a market capitalization of $64.08 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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 net margin of 10.48% and a return on equity of 20.13%. The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the prior year, the firm earned $0.57 EPS. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.12%. The ex-dividend date was Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Analysts Set New Price Targets

EPD has been the subject of a number of research analyst reports. 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. Morgan Stanley dropped their target price on shares of 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 cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Two 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’s stock. According to MarketBeat.com, Enterprise Products Partners 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.