Cypress Capital Group Buys Shares of 14,682 Enterprise Products Partners L.P. $EPD

Cypress Capital Group purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 14,682 shares of the oil and gas producer’s stock, valued at approximately $556,000.

A number of other institutional investors also recently modified their holdings of EPD. Auto Owners Insurance Co boosted 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 valued at $102,784,000 after buying an additional 31,060,000 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Enterprise Products Partners by 12.0% during the fourth 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 raised its stake in Enterprise Products Partners by 119.4% during the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock worth $74,859,000 after acquiring an additional 1,313,976 shares in the last quarter. Barclays PLC lifted its holdings in shares of Enterprise Products Partners by 57.5% in the fourth quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock worth $93,874,000 after acquiring an additional 1,069,304 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its holdings in shares of Enterprise Products Partners by 5,743.2% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,019,056 shares of the oil and gas producer’s stock worth $32,671,000 after acquiring an additional 1,001,616 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EPD shares. Truist Financial lifted their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 4th. Wall Street Zen downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. UBS Group restated a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, Stifel Nicolaus upped their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of “Hold” and an average price target of $39.93.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $38.71 on Monday. The firm has a market capitalization of $83.68 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.41 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. The business’s 50-day moving average price is $37.67 and its 200-day moving average price is $36.77. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). The firm had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.93 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. Shareholders of record on Friday, July 31st will be given a $0.56 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, July 31st. This represents a $2.24 annualized dividend and a yield of 5.8%. Enterprise Products Partners’s dividend payout ratio is currently 81.48%.

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.