Matrix Private Capital Group LLC Purchases New Holdings in Enterprise Products Partners L.P. $EPD

Matrix Private Capital Group LLC bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,613 shares of the oil and gas producer’s stock, valued at approximately $553,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners in the 3rd quarter valued at $31,000. Daytona Street Capital LLC acquired a new stake in shares of Enterprise Products Partners during the 4th quarter valued at about $42,000. Groesbeck Investment Management Corp NJ bought a new stake in Enterprise Products Partners in the fourth quarter valued at about $45,000. Kestra Investment Management LLC bought a new stake in Enterprise Products Partners in the second quarter valued at about $48,000. Finally, State of Wyoming acquired a new position in Enterprise Products Partners in the second quarter worth about $54,000. 26.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on EPD. TD Cowen restated a “hold” rating and set a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. JPMorgan Chase & Co. increased their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Wall Street Zen cut Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Eight 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. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Hold” and a consensus price target of $39.93.

Enterprise Products Partners Stock Down 0.2%

Shares of EPD opened at $38.71 on Friday. The company has a market capitalization of $83.68 billion, a P/E ratio of 14.34, a PEG ratio of 1.41 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The business’s 50 day simple moving average is $37.67 and its 200-day simple moving average is $36.74.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm’s revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.93 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.24 annualized dividend and a 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 presently 81.48%.

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.