L & S Advisors Inc Has $271,000 Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

L & S Advisors Inc raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 24.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,340 shares of the oil and gas producer’s stock after buying an additional 1,840 shares during the period. L & S Advisors Inc’s holdings in Enterprise Products Partners were worth $271,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at $25,000. Stephens Consulting LLC bought a new stake in Enterprise Products Partners during the 1st quarter worth about $29,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners in the 1st quarter valued at about $29,000. Mascoma Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the second quarter worth about $29,000. Finally, Burkett Financial Services LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth approximately $28,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Down 0.6 %

Shares of Enterprise Products Partners stock opened at $29.51 on Wednesday. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05. The business has a fifty day simple moving average of $29.21 and a 200 day simple moving average of $28.87. 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 stock has a market cap of $64.08 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted its 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). The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. Enterprise Products Partners’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Research analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS 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 given a $0.525 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.12%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial raised their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley lowered 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. Finally, StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Two investment 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.