Canal Capital Management LLC Grows Stock Holdings in Enterprise Products Partners L.P. $EPD

Canal Capital Management LLC raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 266.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,410 shares of the oil and gas producer’s stock after buying an additional 25,016 shares during the quarter. Canal Capital Management LLC’s holdings in Enterprise Products Partners were worth $1,302,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. PMV Capital Advisers LLC purchased a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $25,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the 3rd quarter valued at about $31,000. Texas Capital Bancshares Inc TX purchased a new position in Enterprise Products Partners during the 3rd quarter valued at about $32,000. Daytona Street Capital LLC acquired a new position in Enterprise Products Partners in the 4th quarter valued at about $42,000. Finally, Groesbeck Investment Management Corp NJ acquired a new position in Enterprise Products Partners in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD opened at $36.77 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The stock’s 50 day moving average is $37.75 and its two-hundred day moving average is $36.11. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The firm has a market capitalization of $79.49 billion, a PE ratio of 13.62, a P/E/G ratio of 1.30 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) 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). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. During the same period last year, the company posted $0.64 earnings per share. The business’s quarterly revenue was down 6.7% on a year-over-year basis. Research analysts anticipate that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Scotiabank reiterated a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. JPMorgan Chase & Co. increased their price objective on Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Morgan Stanley reiterated an “underweight” rating and issued a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. Finally, Stifel Nicolaus upped their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Hold” and an average price target of $39.94.

About Enterprise Products Partners

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.