R.H. Investment Group LLC Purchases New Shares in Enterprise Products Partners L.P. $EPD

R.H. Investment Group LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 133,965 shares of the oil and gas producer’s stock, valued at approximately $4,925,000. Enterprise Products Partners accounts for approximately 3.7% of R.H. Investment Group LLC’s holdings, making the stock its 14th largest holding.

A number of other hedge funds also recently bought and sold shares of EPD. Miller Howard Investments Inc. NY raised its holdings in shares of Enterprise Products Partners by 1.0% during the fourth quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock valued at $99,775,000 after acquiring an additional 31,733 shares during the period. Royal Palms Capital LLC acquired a new position in Enterprise Products Partners in the 4th quarter worth approximately $1,830,000. Oxbow Advisors LLC grew its position in Enterprise Products Partners by 3.0% during the 4th quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after purchasing an additional 39,052 shares in the last quarter. Texas Yale Capital Corp. raised its stake in Enterprise Products Partners by 4.9% during the 4th quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock valued at $61,104,000 after purchasing an additional 88,475 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Enterprise Products Partners by 7.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock valued at $144,592,000 after purchasing an additional 327,807 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on EPD shares. UBS Group reaffirmed a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Scotiabank reissued a “sector perform” rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Morgan Stanley set a $40.00 price objective on Enterprise Products Partners and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. lifted their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.93.

Enterprise Products Partners Trading Down 0.1%

Enterprise Products Partners stock opened at $38.84 on Monday. 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 quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The stock has a market cap of $83.88 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.30 and a beta of 0.49. The company’s fifty day simple moving average is $37.58 and its 200-day simple moving average is $37.37.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $13.69 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was up 60.8% on a year-over-year basis. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

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.