Clearwave Capital LLC Makes New $637,000 Investment in Enterprise Products Partners L.P. $EPD

Clearwave Capital LLC bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,880 shares of the oil and gas producer’s stock, valued at approximately $637,000.

A number of other institutional investors have also recently made changes to their positions in the company. Miller Howard Investments Inc. NY grew its stake in Enterprise Products Partners by 1.0% in the 4th 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 buying an additional 31,733 shares in the last quarter. Royal Palms Capital LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth $1,830,000. Oxbow Advisors LLC lifted its position in shares of Enterprise Products Partners by 3.0% during the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after acquiring an additional 39,052 shares in the last quarter. Texas Yale Capital Corp. boosted its holdings in shares of Enterprise Products Partners by 4.9% in the fourth quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock worth $61,104,000 after acquiring an additional 88,475 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Enterprise Products Partners by 70.6% in the third quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer’s stock valued at $46,765,000 after purchasing an additional 619,014 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $36.60 on Friday. The firm has a market capitalization of $79.12 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The business’s 50-day moving average price is $37.87 and its 200-day moving average price is $35.81.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share 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 the consensus estimate of $13.62 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EPD. Barclays increased their price objective on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Weiss Ratings raised Enterprise Products Partners from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. Royal Bank Of Canada upped their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. 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 research report on Tuesday, May 12th. Finally, Stifel Nicolaus boosted their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Hold” and an average price target 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.