Daymark Wealth Partners LLC Increases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Daymark Wealth Partners LLC increased its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 259.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 96,440 shares of the oil and gas producer's stock after buying an additional 69,611 shares during the period. Daymark Wealth Partners LLC's holdings in Enterprise Products Partners were worth $2,795,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at $25,000. Stephens Consulting LLC purchased a new stake in Enterprise Products Partners during the 1st quarter valued at $29,000. Palisade Asset Management LLC purchased a new stake in Enterprise Products Partners during the 1st quarter valued at $29,000. Mascoma Wealth Management LLC purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at $29,000. Finally, Burkett Financial Services LLC purchased a new stake in Enterprise Products Partners during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com cut Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. Truist Financial raised their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Finally, Morgan Stanley decreased their target price on Enterprise Products Partners from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Monday, June 10th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $33.08.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock traded up $0.30 during trading on Friday, reaching $29.18. 2,594,609 shares of the stock traded hands, compared to its average volume of 4,402,409. The company has a market capitalization of $63.33 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 1.50 and a beta of 1.03. The business has a fifty day simple moving average of $29.19 and a two-hundred day simple moving average of $28.92. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $30.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued 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 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 company's revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared 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 of this dividend was Wednesday, July 31st. This represents a $2.10 annualized dividend and a yield of 7.20%. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.52. 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.