Apella Capital LLC Acquires Shares of 40,223 Enterprise Products Partners L.P. $EPD

Key Points

• Apella Capital LLC opened a new position in Enterprise Products Partners during the first quarter, buying 40,223 shares valued at about $1.48 million.
• Several other institutional investors also added to EPD, and 26.07% of the stock is now owned by institutions, suggesting continued interest from professional money managers.
• Analysts remain cautious overall: the stock has a consensus rating of “Hold” with a $39.94 average price target, while the company recently reported earnings that missed EPS estimates but beat revenue expectations and paid a 6.0% dividend yield.

Apella Capital LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 40,223 shares of the oil and gas producer's stock, valued at approximately $1,475,000.

Several other hedge funds have also recently bought and sold shares of EPD. Arete Wealth Advisors LLC raised its position in Enterprise Products Partners by 1.5% in the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer's stock worth $661,000 after acquiring an additional 317 shares in the last quarter. ORG Wealth Partners LLC increased its position in shares of 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 purchasing an additional 317 shares during the period. Walker Asset Management LLC raised its stake in 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 worth $631,000 after acquiring an additional 326 shares in the last quarter. Mission Wealth Management LP raised its holdings in shares of Enterprise Products Partners by 1.0% in 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 buying an additional 328 shares during the last quarter. Finally, Montag A & Associates Inc. boosted its stake in shares of Enterprise Products Partners by 5.9% in the 4th 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 last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Jefferies Financial Group upped their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a "hold" rating in a research report on Tuesday, March 31st. Truist Financial raised their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. TD Cowen reiterated a "hold" rating and issued a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Scotiabank restated a "sector perform" rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Finally, Morgan Stanley restated 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. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $39.94.

Enterprise Products Partners Price Performance

EPD opened at $36.62 on Friday. The firm has a 50-day moving average price of $37.80 and a 200-day moving average price of $35.96. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $79.15 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.31 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $13.62 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The business's quarterly revenue was down 6.7% compared to the same quarter last year. Equities analysts expect that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a dividend of $0.55 per share. 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 is 81.48%.

About Enterprise Products Partners

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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