Artesa Financial Group LLC Purchases Shares of 19,077 Enterprise Products Partners L.P. $EPD

Artesa Financial Group LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 19,077 shares of the oil and gas producer’s stock, valued at approximately $612,000. Enterprise Products Partners makes up approximately 0.6% of Artesa Financial Group LLC’s holdings, making the stock its 26th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Arete Wealth Advisors LLC lifted its position in Enterprise Products Partners by 1.5% during the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock valued at $661,000 after buying an additional 317 shares in the last quarter. ORG Wealth Partners LLC lifted its position in Enterprise Products Partners by 0.5% during the fourth quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock valued at $2,125,000 after buying an additional 317 shares in the last quarter. Walker Asset Management LLC raised its stake in shares of Enterprise Products Partners by 1.7% during the fourth quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer’s stock valued at $631,000 after purchasing an additional 326 shares during the period. Mission Wealth Management LP raised its stake in shares of Enterprise Products Partners by 1.0% during the fourth quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock valued at $1,037,000 after purchasing an additional 328 shares during the period. Finally, Montag A & Associates Inc. raised its stake in shares of Enterprise Products Partners by 5.9% during the fourth quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock valued at $189,000 after purchasing an additional 330 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 0.6%

Shares of NYSE:EPD opened at $37.29 on Wednesday. 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 company has a fifty day simple moving average of $38.04 and a 200 day simple moving average of $35.58. The firm has a market cap of $80.61 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.34 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.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly 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 company had revenue of $14.39 billion during 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%.The firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s payout ratio is 81.48%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EPD shares. Morgan Stanley reiterated an “underweight” rating and set a $43.00 price objective (up from $42.00) on shares of Enterprise Products Partners in a research note on Wednesday, May 20th. Scotiabank reiterated a “sector perform” rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Truist Financial lifted their price objective 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. TD Cowen reiterated a “hold” rating and set a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Finally, Royal Bank Of Canada lifted their price objective on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Hold” and a consensus target price of $39.67.

Insider Activity

In related news, CEO Aj Teague purchased 2,665 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the purchase, the chief executive officer owned 77,576 shares in the company, valued at approximately $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 32.60% of the company’s stock.

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.