Synergy Asset Management LLC Invests $4.98 Million in Enterprise Products Partners L.P. (NYSE:EPD)

Synergy Asset Management LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 171,876 shares of the oil and gas producer’s stock, valued at approximately $4,981,000.

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

Enterprise Products Partners Stock Performance

Shares of NYSE EPD traded down $0.03 during trading on Friday, reaching $29.00. 113,783 shares of the stock traded hands, compared to its average volume of 4,503,046. 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 has a market capitalization of $62.98 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $30.05. The company has a 50-day moving average of $29.18 and a 200-day moving average of $28.75.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. Analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.525 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.24%. Enterprise Products Partners’s payout ratio is presently 82.35%.

Analyst Ratings Changes

A number of brokerages have commented on EPD. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. cut their price objective on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Finally, Morgan Stanley reduced their target price 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 given a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners 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.