52,209 Shares in Enterprise Products Partners L.P. $EPD Acquired by Argyle Capital Partners LLC

Key Points

• Argyle Capital Partners acquired 52,209 shares of Enterprise Products Partners during the second quarter, worth approximately $1.92 million. Institutional investors collectively own 26.07% of EPD.
• Enterprise Products Partners reported quarterly EPS of $0.84, beating estimates of $0.75, while revenue rose 60.8% year over year to $18.27 billion.
• The company increased its quarterly dividend to $0.56 per share, or $2.24 annualized, representing a yield of approximately 5.8%. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $39.93.

Argyle Capital Partners LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 52,209 shares of the oil and gas producer's stock, valued at approximately $1,919,000. Enterprise Products Partners makes up approximately 1.2% of Argyle Capital Partners LLC's holdings, making the stock its 16th largest position.

Other hedge funds have also recently bought and sold shares of the company. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners during the third quarter worth about $31,000. N.E.W. Advisory Services LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at $37,000. Bravera Wealth grew its stake in shares of Enterprise Products Partners by 666.7% in the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer's stock valued at $38,000 after buying an additional 900 shares during the period. Kestra Investment Management LLC bought a new stake in Enterprise Products Partners in the 2nd quarter valued at about $48,000. Finally, State of Wyoming acquired a new position in Enterprise Products Partners during the 2nd quarter worth approximately $54,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Down 0.7%

Shares of NYSE EPD opened at $38.61 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The company has a market cap of $83.38 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.30 and a beta of 0.49. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The firm's fifty day moving average is $37.60 and its 200 day moving average is $37.41.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The company had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter in the previous year, the business earned $0.66 EPS. Enterprise Products Partners's revenue was up 60.8% compared to the same quarter last year. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.8%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. Enterprise Products Partners's dividend payout ratio (DPR) is 77.78%.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research reports. UBS Group reissued a "buy" rating and issued a $45.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Scotiabank reissued a "sector perform" rating and issued a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Citigroup reaffirmed a "buy" rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Wolfe Research raised shares of Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Finally, Weiss Ratings raised shares of Enterprise Products Partners from a "buy (b)" rating to a "buy (a-)" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $39.93.

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.

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