Kavar Capital Partners Group LLC Boosts Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Kavar Capital Partners Group LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 25.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,144 shares of the oil and gas producer’s stock after buying an additional 1,644 shares during the period. Kavar Capital Partners Group LLC’s holdings in Enterprise Products Partners were worth $278,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Tidemark LLC lifted its holdings in shares of Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 318 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in Enterprise Products Partners in the 4th quarter worth $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners in the fourth quarter worth $30,000. Security National Bank purchased a new stake in Enterprise Products Partners during the first quarter valued at about $30,000. Finally, Alpine Bank Wealth Management purchased a new stake in Enterprise Products Partners during the first quarter valued at about $31,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $30.80 on Thursday. The firm has a market capitalization of $66.80 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.29 and a beta of 0.65. The stock has a fifty day moving average of $31.21 and a 200 day moving average of $32.10. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The company had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a $0.535 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.95%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EPD shares. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Morgan Stanley increased their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Scotiabank lifted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 5th. Finally, Citigroup dropped their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.67.

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.