Perennial Investment Advisors LLC Invests $202,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Perennial Investment Advisors LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,961 shares of the oil and gas producer’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth $25,000. Burkett Financial Services LLC acquired a new position in Enterprise Products Partners during the fourth quarter worth about $28,000. Stephens Consulting LLC purchased a new stake in shares of Enterprise Products Partners in the first quarter valued at about $29,000. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners in the first quarter worth $29,000. Finally, Mascoma Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at $29,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $29.51 on Wednesday. The company has a market cap of $64.08 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The stock’s 50-day moving average is $29.21 and its 200-day moving average is $28.87.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly 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 business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same quarter in the previous year, the business posted $0.57 EPS. The company’s quarterly revenue was up 26.6% on a year-over-year basis. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.12%. This is a boost 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 is 82.35%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on EPD shares. Truist Financial boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Morgan Stanley cut their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.