R.H. Investment Group LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 133,965 shares of the oil and gas producer’s stock, valued at approximately $4,925,000. Enterprise Products Partners comprises about 3.7% of R.H. Investment Group LLC’s investment portfolio, making the stock its 14th largest position.
Several other large investors also recently made changes to their positions in the company. Miller Howard Investments Inc. NY grew its stake in shares of Enterprise Products Partners by 1.0% in the fourth quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock worth $99,775,000 after purchasing an additional 31,733 shares in the last quarter. Royal Palms Capital LLC bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at about $1,830,000. Oxbow Advisors LLC lifted its holdings in Enterprise Products Partners by 3.0% in the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after purchasing an additional 39,052 shares during the period. Texas Yale Capital Corp. lifted its holdings in Enterprise Products Partners by 4.9% in the fourth quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock worth $61,104,000 after purchasing an additional 88,475 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in Enterprise Products Partners by 7.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock valued at $144,592,000 after buying an additional 327,807 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Truist Financial boosted their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Scotiabank reiterated a “sector perform” rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Morgan Stanley set a $40.00 target price on Enterprise Products Partners and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. increased their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $39.93.
Enterprise Products Partners Stock Performance
NYSE:EPD opened at $38.84 on Monday. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average of $37.58 and a 200-day moving average of $37.37. The firm has a market cap of $83.88 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same period in the previous year, the firm earned $0.66 EPS. The business’s revenue for the quarter was up 60.8% on a year-over-year basis. Analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.
Enterprise Products Partners Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.56 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is currently 77.78%.
Enterprise Products Partners Company Profile
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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