Canal Capital Management LLC Buys 25,016 Shares of Enterprise Products Partners L.P. $EPD

Canal Capital Management LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 266.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,410 shares of the oil and gas producer’s stock after purchasing an additional 25,016 shares during the period. Canal Capital Management LLC’s holdings in Enterprise Products Partners were worth $1,302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of EPD. Auto Owners Insurance Co raised its stake in Enterprise Products Partners by 3,106.0% in the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after buying an additional 31,060,000 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Enterprise Products Partners in the 3rd quarter worth $292,194,000. Goldman Sachs Group Inc. raised its position in shares of Enterprise Products Partners by 12.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after acquiring an additional 1,940,583 shares in the last quarter. Corient Private Wealth LLC lifted its stake in shares of Enterprise Products Partners by 119.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock worth $74,859,000 after purchasing an additional 1,313,976 shares during the last quarter. Finally, Barclays PLC boosted its position in Enterprise Products Partners by 57.5% during the fourth quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock valued at $93,874,000 after purchasing an additional 1,069,304 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.1%

EPD stock opened at $36.77 on Friday. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The firm has a market cap of $79.49 billion, a P/E ratio of 13.62, a PEG ratio of 1.30 and a beta of 0.49. The company’s 50-day simple moving average is $37.75 and its 200-day simple moving average is $36.11.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The business had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 3.01 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. UBS Group reissued a “buy” rating and set a $45.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Citigroup restated a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Finally, Stifel Nicolaus upped their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Hold” and an average target price of $39.94.

Enterprise Products Partners Company 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.