Zega Financial LLC Buys 1,862 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Zega Financial LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 10.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 20,526 shares of the oil and gas producer’s stock after acquiring an additional 1,862 shares during the period. Zega Financial LLC’s holdings in Enterprise Products Partners were worth $595,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Hantz Financial Services Inc. bought a new position in Enterprise Products Partners in the second quarter valued at about $25,000. Burkett Financial Services LLC bought a new position in Enterprise Products Partners in the 4th quarter valued at approximately $28,000. Stephens Consulting LLC acquired a new stake in Enterprise Products Partners during the 1st quarter worth approximately $29,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners during the 1st quarter worth approximately $29,000. Finally, Mascoma Wealth Management LLC bought a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Morgan Stanley dropped their price target on shares of 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. 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 research report on Wednesday, July 31st. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Two research 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.08.

Enterprise Products Partners Trading Down 0.6 %

NYSE:EPD opened at $29.51 on Wednesday. The firm has a fifty day simple moving average of $29.21 and a two-hundred day simple moving average of $28.87. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05. The stock has a market capitalization of $64.08 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.49 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the prior year, the business earned $0.57 earnings per share. The business’s quarterly revenue was up 26.6% on a year-over-year basis. Analysts expect that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.525 dividend. This is a boost 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 7.12%. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

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.