MidFirst Bank Invests $449,000 in Enterprise Products Partners L.P. $EPD

MidFirst Bank purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,000 shares of the oil and gas producer’s stock, valued at approximately $449,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. purchased a new stake in shares of Enterprise Products Partners in the third quarter valued at about $292,194,000. Goldman Sachs Group Inc. grew its holdings in shares of 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 buying an additional 1,940,583 shares during the last quarter. Corient Private Wealth LLC increased its position in Enterprise Products Partners by 119.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock valued at $74,859,000 after acquiring an additional 1,313,976 shares during the period. Barclays PLC increased its position in Enterprise Products Partners by 57.5% in the 4th quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock valued at $93,874,000 after acquiring an additional 1,069,304 shares during the period. Finally, Vestmark Advisory Solutions Inc. raised its stake in Enterprise Products Partners by 5,743.2% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 1,019,056 shares of the oil and gas producer’s stock valued at $32,671,000 after acquiring an additional 1,001,616 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $36.60 on Friday. The stock has a market capitalization of $79.12 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.30 and a beta of 0.49. The business’s 50 day moving average is $37.87 and its two-hundred day moving average is $35.81. 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.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. During the same period in the prior year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. Research analysts expect that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Morgan Stanley reaffirmed an “underweight” rating and set a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. 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 report on Monday, March 30th. Wells Fargo & Company raised shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, March 25th. Finally, TD Cowen restated a “hold” rating and set a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.