MSH Capital Advisors LLC Grows Stock Holdings in Enterprise Products Partners L.P. $EPD

MSH Capital Advisors LLC increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 126.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 53,154 shares of the oil and gas producer’s stock after acquiring an additional 29,651 shares during the period. MSH Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $1,704,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. PMV Capital Advisers LLC purchased a new position in shares of Enterprise Products Partners in the fourth quarter valued at $25,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners in the third quarter valued at $31,000. Texas Capital Bancshares Inc TX purchased a new position in shares of Enterprise Products Partners in the third quarter valued at $32,000. Abich Financial Wealth Management LLC purchased a new position in shares of Enterprise Products Partners in the third quarter valued at $32,000. Finally, Daytona Street Capital LLC purchased a new position in shares of Enterprise Products Partners in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.2%

Shares of NYSE EPD opened at $39.55 on Tuesday. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17. The company has a market capitalization of $85.49 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The firm’s 50-day moving average is $38.11 and its two-hundred day moving average is $35.10.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). The business had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.95 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s payout ratio is currently 81.48%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EPD. JPMorgan Chase & Co. upped their price target on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Wells Fargo & Company raised shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $40.00 to $42.00 in a report on Wednesday, March 25th. Royal Bank Of Canada upped their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, March 30th. TD Cowen reaffirmed a “hold” rating and issued a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Finally, Wolfe Research raised shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $39.67.

Insider Buying and Selling at Enterprise Products Partners

In other news, CEO Aj Teague acquired 2,665 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the transaction, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. This represents a 3.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 32.60% of the stock is currently owned by corporate insiders.

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.