Millennium Capital Advisors LLC Makes New $602,000 Investment in Enterprise Products Partners L.P. $EPD

Millennium Capital Advisors LLC purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,787 shares of the oil and gas producer’s stock, valued at approximately $602,000.

A number of other hedge funds have also modified their holdings of the company. Novare Capital Management LLC bought a new position in shares of Enterprise Products Partners during the fourth quarter worth $334,000. AlphaCore Capital LLC boosted its position in shares of Enterprise Products Partners by 14.6% during the fourth quarter. AlphaCore Capital LLC now owns 447,383 shares of the oil and gas producer’s stock worth $14,343,000 after acquiring an additional 57,142 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Enterprise Products Partners by 57.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 464,128 shares of the oil and gas producer’s stock worth $14,880,000 after acquiring an additional 169,535 shares during the last quarter. Fulcrum Asset Management LLP boosted its position in shares of Enterprise Products Partners by 16.1% during the fourth quarter. Fulcrum Asset Management LLP now owns 16,733 shares of the oil and gas producer’s stock worth $537,000 after acquiring an additional 2,320 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of 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 worth $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.

Insider Buying and Selling

In other Enterprise Products Partners news, CEO Aj Teague acquired 2,665 shares of the stock in a transaction on Friday, March 20th. The stock was acquired at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the transaction, the chief executive officer directly owned 77,576 shares of the company’s stock, valued at $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 32.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of research reports. The Goldman Sachs Group restated a “neutral” rating and set a $39.00 target price on shares of Enterprise Products Partners in a research report on Thursday. Wall Street Zen lowered shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup restated a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Truist Financial upped their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Hold” and an average target price of $39.60.

Enterprise Products Partners Price Performance

EPD stock opened at $39.24 on Friday. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $39.74. The company has a quick ratio of 0.74, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The company has a fifty day simple moving average of $37.82 and a two-hundred day simple moving average of $34.72. The firm has a market capitalization of $84.82 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter last year, the business earned $0.64 EPS. Enterprise Products Partners’s revenue for the quarter was down 6.7% compared to the same quarter last year. Analysts anticipate that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current fiscal 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 dividend of $0.55 per share. The ex-dividend date was Thursday, April 30th. This represents a $2.20 annualized dividend and a yield of 5.6%. Enterprise Products Partners’s dividend payout ratio (DPR) is 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.