Great Valley Advisor Group Inc. Buys 11,455 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Great Valley Advisor Group Inc. grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 14.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 93,552 shares of the oil and gas producer’s stock after buying an additional 11,455 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Enterprise Products Partners were worth $2,711,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in shares of Enterprise Products Partners by 31.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,591 shares of the oil and gas producer’s stock worth $68,000 after purchasing an additional 614 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Enterprise Products Partners by 90.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 20,635 shares of the oil and gas producer’s stock worth $544,000 after purchasing an additional 9,775 shares during the last quarter. Cerity Partners LLC boosted its position in Enterprise Products Partners by 89.9% during the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock valued at $7,630,000 after acquiring an additional 137,044 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new stake in Enterprise Products Partners during the fourth quarter valued at $85,000. Finally, NewEdge Wealth LLC boosted its position in Enterprise Products Partners by 23.4% during the fourth quarter. NewEdge Wealth LLC now owns 13,772 shares of the oil and gas producer’s stock valued at $363,000 after acquiring an additional 2,616 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Truist Financial upped their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday. Morgan Stanley cut their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Finally, JPMorgan Chase & Co. dropped their price objective 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. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.08.

Enterprise Products Partners Trading Up 2.2 %

Shares of EPD stock opened at $28.91 on Thursday. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $30.05. 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 company has a 50-day simple moving average of $28.98 and a two-hundred day simple moving average of $28.48. The company has a market capitalization of $62.77 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.33 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last issued 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 return on equity of 20.18% and a net margin of 10.48%. The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same period in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced 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. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

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.