AlphaCore Capital LLC Has $14.34 Million Position in Enterprise Products Partners L.P. $EPD

Key Points

• AlphaCore Capital LLC increased its stake in Enterprise Products Partners by 14.6% in the fourth quarter, ending with 447,383 shares valued at about $14.34 million.
• Several other institutional investors also adjusted positions in EPD, and institutional ownership stands at 26.07% of the company’s stock.
• Enterprise Products Partners reported Q1 earnings of $0.68 per share, missing estimates, while revenue came in at $14.39 billion. The company also paid a quarterly dividend of $0.55 per share, or $2.20 annualized, for a 5.6% yield.

AlphaCore Capital LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 14.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 447,383 shares of the oil and gas producer's stock after purchasing an additional 57,142 shares during the quarter. AlphaCore Capital LLC's holdings in Enterprise Products Partners were worth $14,343,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in EPD. CIBC Bancorp USA Inc. bought a new stake in shares of Enterprise Products Partners in the third quarter valued at approximately $292,194,000. Corient Private Wealth LLC boosted its position in shares of Enterprise Products Partners by 119.4% in the second 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. Berkley W R Corp boosted its position in shares of Enterprise Products Partners by 17.9% in the third quarter. Berkley W R Corp now owns 6,000,000 shares of the oil and gas producer's stock valued at $187,620,000 after acquiring an additional 910,206 shares during the period. Victory Capital Management Inc. boosted its position in shares of Enterprise Products Partners by 70.6% in the third quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer's stock valued at $46,765,000 after acquiring an additional 619,014 shares during the period. Finally, Duff & Phelps Investment Management Co. boosted its position in shares of Enterprise Products Partners by 35.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,750,560 shares of the oil and gas producer's stock valued at $54,740,000 after acquiring an additional 460,071 shares during the period. Institutional investors own 26.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on EPD shares. Royal Bank Of Canada upped their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the company an "outperform" rating in a research note on Monday, March 30th. TD Cowen restated a "hold" rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. The Goldman Sachs Group restated a "neutral" rating and issued a $39.00 target price on shares of Enterprise Products Partners in a research note on Thursday. Wells Fargo & Company upgraded Enterprise Products Partners from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $40.00 to $42.00 in a research note on Wednesday, March 25th. Finally, Truist Financial upped their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the company a "hold" rating in a research note on Monday, May 4th. Nine equities 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, the company presently has an average rating of "Hold" and a consensus price target of $39.60.

Enterprise Products Partners Price Performance

Shares of EPD opened at $39.24 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.74 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $39.74. The stock has a market cap of $84.82 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The stock's 50-day moving average price is $37.82 and its two-hundred day moving average price is $34.72.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its 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). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter last year, the business posted $0.64 EPS. Enterprise Products Partners's quarterly revenue was down 6.7% on a year-over-year basis. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.55 per share. The ex-dividend date was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a yield of 5.6%. Enterprise Products Partners's dividend payout ratio (DPR) is 81.48%.

Insider Transactions at Enterprise Products Partners

In related news, CEO Aj Teague bought 2,665 shares of Enterprise Products Partners stock in a transaction on Friday, March 20th. The shares were purchased at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the acquisition, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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.

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