Caprock Group LLC Makes New Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Caprock Group LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 66,735 shares of the oil and gas producer’s stock, valued at approximately $1,943,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EPD. SG Americas Securities LLC acquired a new stake in Enterprise Products Partners during the first quarter worth approximately $212,000. O Shaughnessy Asset Management LLC increased its holdings in shares of Enterprise Products Partners by 19.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after acquiring an additional 3,770 shares during the period. Lake Street Advisors Group LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $421,000. Natixis increased its holdings in shares of Enterprise Products Partners by 144.9% in the 1st quarter. Natixis now owns 74,872 shares of the oil and gas producer’s stock valued at $2,185,000 after acquiring an additional 44,300 shares during the period. Finally, Freestone Capital Holdings LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $252,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $31.79 on Thursday. The firm has a market capitalization of $68.90 billion, a P/E ratio of 11.90, a PEG ratio of 1.60 and a beta of 1.04. Enterprise Products Partners L.P. has a one year low of $25.96 and a one year high of $31.87. The company’s fifty day moving average is $29.60 and its two-hundred day moving average is $29.13. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.61%. Enterprise Products Partners’s payout ratio is currently 78.65%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EPD shares. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Truist Financial lifted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.