Pin Oak Investment Advisors Inc. Purchases New Holdings in Enterprise Products Partners L.P. $EPD

Pin Oak Investment Advisors Inc. acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 129,094 shares of the oil and gas producer’s stock, valued at approximately $4,746,000. Enterprise Products Partners comprises approximately 2.5% of Pin Oak Investment Advisors Inc.’s investment portfolio, making the stock its 7th largest position.

Several other large investors have also recently bought and sold shares of the company. Auto Owners Insurance Co increased its stake in shares of 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 valued at $102,784,000 after buying an additional 31,060,000 shares during the period. Energy Income Partners LLC acquired a new position in shares of Enterprise Products Partners during the second quarter valued at $508,461,000. Bank of America Corp DE bought a new position in Enterprise Products Partners in the second quarter valued at about $416,553,000. BlackRock Inc. bought a new position in Enterprise Products Partners in the second quarter valued at about $255,325,000. Finally, Berkley W R Corp acquired a new stake in Enterprise Products Partners in the second quarter worth about $250,887,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

EPD opened at $38.97 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The company has a fifty day simple moving average of $37.89 and a 200 day simple moving average of $37.66. The stock has a market cap of $84.15 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.28 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The firm had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period in the previous year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 60.8% on a year-over-year basis. On average, research analysts expect that Enterprise Products Partners L.P. will post 3.03 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.56 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 5.7%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EPD shares. The Goldman Sachs Group restated a “neutral” rating and set a $38.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Morgan Stanley reiterated an “underweight” rating and set a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. TD Cowen reissued a “hold” rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Scotiabank restated a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Finally, Truist Financial lifted their target price 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $40.00.

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.