Requisite Capital Management LLC Takes $1.05 Million Position in Enterprise Products Partners L.P. $EPD

Requisite Capital Management LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPDFree Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 28,644 shares of the oil and gas producer’s stock, valued at approximately $1,053,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Miller Howard Investments Inc. NY boosted its stake in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock valued at $99,775,000 after purchasing an additional 31,733 shares during the last quarter. Royal Palms Capital LLC bought a new position in Enterprise Products Partners during the fourth quarter worth $1,830,000. 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 valued at $61,104,000 after buying an additional 88,475 shares during the period. Oxbow Advisors LLC boosted its position in Enterprise Products Partners by 3.0% during the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock valued at $42,610,000 after acquiring an additional 39,052 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Enterprise Products Partners by 7.8% during the fourth 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 acquiring an additional 327,807 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 0.7%

EPD stock opened at $38.61 on Tuesday. The stock’s 50 day simple moving average is $37.60 and its 200 day simple moving average is $37.41. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The company has a market cap of $83.38 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPDGet Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 earnings per share. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.56 dividend. The ex-dividend date was Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is 77.78%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EPD. Scotiabank reissued a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report 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 note on Tuesday, July 21st. Stifel Nicolaus lifted their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings raised Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. Finally, Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average target price of $39.93.

Get Our Latest Stock Report on Enterprise Products Partners

Enterprise Products Partners Profile

(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.

Further Reading

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

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