WP Advisors LLC Buys 6,655 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

WP Advisors LLC increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 328,639 shares of the oil and gas producer’s stock after acquiring an additional 6,655 shares during the period. Enterprise Products Partners makes up about 3.0% of WP Advisors LLC’s holdings, making the stock its 7th largest holding. WP Advisors LLC’s holdings in Enterprise Products Partners were worth $9,524,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Blackstone Inc. raised its stake in shares of Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after acquiring an additional 1,391,370 shares in the last quarter. Energy Income Partners LLC raised its stake in Enterprise Products Partners by 0.9% in the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock valued at $455,761,000 after buying an additional 142,689 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its stake in Enterprise Products Partners by 2.6% in the first quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock valued at $326,091,000 after buying an additional 284,772 shares in the last quarter. Chickasaw Capital Management LLC raised its stake in Enterprise Products Partners by 1.6% in the second quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer’s stock valued at $159,901,000 after buying an additional 87,930 shares in the last quarter. Finally, Berkley W R Corp raised its stake in Enterprise Products Partners by 24.5% in the first quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after buying an additional 1,000,000 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD traded up $0.09 during midday trading on Friday, reaching $29.34. 2,558,561 shares of the company were exchanged, compared to its average volume of 4,555,431. 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 1 year low of $25.61 and a 1 year high of $30.05. The stock has a fifty day simple moving average of $29.17 and a 200 day simple moving average of $28.69. The stock has a market cap of $63.71 billion, a P/E ratio of 11.51, a PEG ratio of 1.33 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share 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 20.18%. The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same period in the prior year, the firm posted $0.57 EPS. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, research analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date was Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is currently 82.35%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on EPD shares. JPMorgan Chase & Co. cut their price target on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. 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. Morgan Stanley dropped 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. Finally, StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.