MV Capital Management Inc. Invests $470,000 in Enterprise Products Partners L.P. $EPD

MV Capital Management Inc. acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPDFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,666 shares of the oil and gas producer’s stock, valued at approximately $470,000.

A number of other institutional investors and hedge funds have also bought and sold shares of EPD. PMV Capital Advisers LLC bought a new stake in Enterprise Products Partners in the 4th quarter valued at $25,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners during the 3rd quarter worth about $31,000. Texas Capital Bancshares Inc TX acquired a new position in shares of Enterprise Products Partners during the third quarter valued at about $32,000. Daytona Street Capital LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at about $42,000. Finally, Groesbeck Investment Management Corp NJ bought a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $45,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.2%

EPD stock opened at $36.60 on Friday. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17. The firm has a market cap of $79.12 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.30 and a beta of 0.49. The business’s 50 day moving average is $37.90 and its 200-day moving average is $35.80. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPDGet Free Report) last issued its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The company had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 6.0%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio is currently 81.48%.

Analyst Upgrades and Downgrades

EPD has been the topic of several research reports. Truist Financial boosted their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $42.00 in a research report on Wednesday, March 25th. Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday. Finally, Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $39.94.

View Our Latest Analysis on EPD

About Enterprise Products Partners

(Free Report)

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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