AlTi Global Inc. Takes Position in Enterprise Products Partners L.P. $EPD

AlTi Global Inc. acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 23,465 shares of the oil and gas producer’s stock, valued at approximately $888,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Miller Howard Investments Inc. NY lifted its position in 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 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 about $1,830,000. Oxbow Advisors LLC raised its position in shares of Enterprise Products Partners by 3.0% in the 4th quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock valued at $42,610,000 after purchasing an additional 39,052 shares in the last quarter. Texas Yale Capital Corp. boosted its stake in shares of 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 buying an additional 88,475 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Enterprise Products Partners by 7.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock worth $144,592,000 after buying an additional 327,807 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 1.4%

Shares of NYSE EPD opened at $38.75 on Tuesday. The company has a market cap of $83.76 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.37 and a beta of 0.49. 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 current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The stock’s 50 day simple moving average is $37.67 and its 200 day simple moving average is $36.59.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.Enterprise Products Partners’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 earnings per share. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.97 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.56 dividend. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 5.8%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Analysts Set New Price Targets

EPD has been the topic of several recent analyst reports. Citigroup reaffirmed a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Truist Financial upped their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, May 4th. UBS Group restated a “buy” rating and set a $45.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Morgan Stanley reaffirmed an “underweight” rating and set a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. Finally, Royal Bank Of Canada lifted their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Hold” and an average target price of $40.13.

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.