Kapstone Financial Advisors LLC Purchases New Position in Enterprise Products Partners L.P. (NYSE:EPD)

Kapstone Financial Advisors LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 6,624 shares of the oil and gas producer’s stock, valued at approximately $223,000.

A number of other hedge funds have also recently added to or reduced their stakes in EPD. Barclays PLC lifted its stake in shares of Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after acquiring an additional 1,326,010 shares during the last quarter. FMR LLC boosted its stake in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Merewether Investment Management LP bought a new stake in shares of Enterprise Products Partners during the third quarter worth about $30,746,000. Strategic Financial Concepts LLC increased its stake in shares of Enterprise Products Partners by 3,884.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock valued at $21,414,000 after buying an additional 665,716 shares during the period. Finally, Fisher Funds Management LTD bought a new position in Enterprise Products Partners in the 4th quarter valued at approximately $13,599,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.7 %

Shares of NYSE:EPD opened at $33.65 on Tuesday. 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 L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. The business’s 50 day simple moving average is $32.91 and its two-hundred day simple moving average is $31.16. The firm has a market cap of $72.94 billion, a P/E ratio of 12.51, a PEG ratio of 1.37 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the firm earned $0.72 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.36%. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EPD shares. Truist Financial boosted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Scotiabank started coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective for the company. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

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.