MV Capital Management Inc. Purchases Shares of 14,666 Enterprise Products Partners L.P. $EPD

MV Capital Management Inc. acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, Holdings Channel.com reports. The fund acquired 14,666 shares of the oil and gas producer’s stock, valued at approximately $470,000.

Several other hedge funds also recently modified their holdings of EPD. Sunbelt Securities Inc. raised its stake in shares of Enterprise Products Partners by 0.6% in the fourth quarter. Sunbelt Securities Inc. now owns 227,327 shares of the oil and gas producer’s stock valued at $7,288,000 after acquiring an additional 1,371 shares during the last quarter. Capstone Wealth Management Inc. bought a new stake in Enterprise Products Partners during the 4th quarter worth approximately $489,000. Mcguire Capital Advisors Inc. bought a new stake in Enterprise Products Partners during the 4th quarter worth approximately $1,585,000. TMB Capital Partners LLC acquired a new stake in Enterprise Products Partners during the 4th quarter valued at $349,000. Finally, Rare Wolf Capital LLC bought a new position in Enterprise Products Partners in the 4th quarter valued at $360,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.2%

EPD stock opened at $36.60 on Friday. 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 L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The company has a market cap of $79.12 billion, a P/E ratio of 13.56, a PEG ratio of 1.30 and a beta of 0.49. The business has a fifty day moving average of $37.90 and a 200-day moving average of $35.80.

Enterprise Products Partners (NYSE:EPD) last announced 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). 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 analyst estimates of $13.62 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Dividend Announcement

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

Analysts Set New Price Targets

EPD has been the topic of a number of recent analyst reports. Wells Fargo & Company raised Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $42.00 in a research note on Wednesday, March 25th. Truist Financial raised their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Barclays lifted their price target on Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. UBS Group reissued a “buy” rating and set a $45.00 price objective on shares of Enterprise Products Partners in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Enterprise Products Partners has an average rating of “Hold” and an average target price of $39.94.

Enterprise Products Partners 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.