Infrastructure Capital Advisors LLC Boosts Position in Enterprise Products Partners L.P. $EPD

Infrastructure Capital Advisors LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 15.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,548,308 shares of the oil and gas producer’s stock after acquiring an additional 207,566 shares during the quarter. Enterprise Products Partners accounts for 4.1% of Infrastructure Capital Advisors LLC’s portfolio, making the stock its 6th largest position. Infrastructure Capital Advisors LLC owned about 0.07% of Enterprise Products Partners worth $58,588,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EPD. Auto Owners Insurance Co raised its position in Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after purchasing an additional 31,060,000 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Enterprise Products Partners by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after buying an additional 1,940,583 shares during the last quarter. Corient Private Wealth LLC grew its stake in shares of Enterprise Products Partners by 119.4% during the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock valued at $74,859,000 after buying an additional 1,313,976 shares during the last quarter. Barclays PLC raised its holdings in shares of Enterprise Products Partners by 57.5% in the fourth quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock worth $93,874,000 after buying an additional 1,069,304 shares during the period. Finally, Vestmark Advisory Solutions Inc. raised its holdings in shares of Enterprise Products Partners by 5,743.2% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,019,056 shares of the oil and gas producer’s stock worth $32,671,000 after buying an additional 1,001,616 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Down 1.5%

EPD opened at $38.15 on Tuesday. The stock’s fifty day moving average is $37.65 and its two-hundred day moving average is $36.82. The company has a market capitalization of $82.46 billion, a P/E ratio of 14.13, a PEG ratio of 1.41 and a beta of 0.49. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

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 for the quarter, missing the consensus estimate 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 firm had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. Enterprise Products Partners’s quarterly revenue was down 6.7% compared to the same quarter last year. Analysts forecast that Enterprise Products Partners L.P. will post 2.93 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.56 dividend. The ex-dividend date is Friday, July 31st. 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 5.9%. Enterprise Products Partners’s dividend payout ratio is presently 82.96%.

Analyst Ratings Changes

EPD has been the subject of a number of recent analyst reports. TD Cowen restated a “hold” rating and set a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Jefferies Financial Group lifted their target price on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research report on Tuesday, March 31st. Wolfe Research raised shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Truist Financial upped their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Finally, Weiss Ratings downgraded shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Hold” and an average target price of $39.93.

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.