Moors & Cabot Inc. Raises Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Moors & Cabot Inc. raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 390,379 shares of the oil and gas producer’s stock after buying an additional 7,723 shares during the period. Moors & Cabot Inc.’s holdings in Enterprise Products Partners were worth $11,313,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners in the second quarter worth about $25,000. Burkett Financial Services LLC bought a new stake in shares of Enterprise Products Partners in the 4th quarter worth approximately $28,000. Stephens Consulting LLC purchased a new position in shares of Enterprise Products Partners during the first quarter valued at approximately $29,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners during the first quarter valued at approximately $29,000. Finally, Mascoma Wealth Management LLC purchased a new stake in Enterprise Products Partners in the second quarter worth $29,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.2 %

Shares of NYSE:EPD opened at $29.68 on Tuesday. 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 $64.45 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.49 and a beta of 1.03. The stock has a fifty day simple moving average of $29.21 and a two-hundred day simple moving average of $28.85. 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 released 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). The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 earnings per share. On average, research analysts anticipate 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 announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.08%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Truist Financial upped their price objective 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 decreased 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. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners 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.