Hudson Edge Investment Partners Inc. Takes Position in Enterprise Products Partners L.P. (NYSE:EPD)

Hudson Edge Investment Partners Inc. bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 3,600 shares of the oil and gas producer’s stock, valued at approximately $104,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blackstone Inc. grew its stake in 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 during the period. Reaves W H & Co. Inc. grew its position in Enterprise Products Partners by 1,368.4% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock valued at $42,849,000 after purchasing an additional 1,368,440 shares during the period. Berkley W R Corp increased its stake in Enterprise Products Partners by 24.5% during the 1st 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 purchasing an additional 1,000,000 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in Enterprise Products Partners by 4.8% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after buying an additional 741,237 shares during the last quarter. Finally, Payden & Rygel Investment Group bought a new position in shares of Enterprise Products Partners in the first quarter valued at $21,371,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

NYSE EPD traded down $0.16 during trading hours on Friday, reaching $28.87. 2,764,727 shares of the company were exchanged, compared to its average volume of 4,518,434. The stock has a market capitalization of $62.69 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.50 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The business’s 50 day simple moving average is $29.18 and its 200-day simple moving average is $28.77.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. During the same quarter in the previous year, the business earned $0.57 EPS. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, equities research analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.525 dividend. The ex-dividend date was Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 7.27%. Enterprise Products Partners’s payout ratio is presently 82.35%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EPD. Truist Financial upped their target price on shares of 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 target price 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. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. dropped their price objective 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. Two equities research 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 company’s stock. Based on data from MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Company 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.