Crescent Grove Advisors LLC Buys 69,819 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• Crescent Grove Advisors increased its Enterprise Products Partners stake by 127.4% in the third quarter, acquiring 69,819 additional shares for a total of 124,618 shares valued at approximately $4.44 million.
• Analysts maintain a generally cautious view, with a consensus “Hold” rating and an average price target of $40.12; seven analysts rate the stock Buy, 10 Hold, and one Sell.
• Enterprise Products Partners reported quarterly earnings of $0.84 per share, exceeding estimates, while revenue rose 60.8% year over year. The company declared a $0.56 quarterly dividend, equivalent to a 6.1% annualized yield.

Crescent Grove Advisors LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 127.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 124,618 shares of the oil and gas producer's stock after acquiring an additional 69,819 shares during the period. Crescent Grove Advisors LLC's holdings in Enterprise Products Partners were worth $4,438,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. N.E.W. Advisory Services LLC purchased a new position in shares of Enterprise Products Partners during the 2nd quarter valued at $37,000. Bravera Wealth grew its holdings in Enterprise Products Partners by 666.7% during the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer's stock valued at $38,000 after purchasing an additional 900 shares during the last quarter. Markowski Investments acquired a new position in Enterprise Products Partners in the 2nd quarter valued at $46,000. BOK Financial Private Wealth Inc. bought a new position in Enterprise Products Partners in the 2nd quarter worth approximately $48,000. Finally, West Paces Advisors Inc. acquired a new position in shares of Enterprise Products Partners during the second quarter valued at about $55,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EPD. Royal Bank Of Canada reissued an "outperform" rating and issued a $42.00 target price on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. Stifel Nicolaus assumed coverage on Enterprise Products Partners in a report on Thursday, September 10th. They set a "hold" rating and a $40.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Enterprise Products Partners from $43.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, October 8th. Melius Research assumed coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. They issued a "hold" rating and a $42.00 price target for the company. Finally, Capital One Financial initiated coverage on shares of Enterprise Products Partners in a research report on Tuesday, September 22nd. They set an "equal weight" rating and a $42.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Enterprise Products Partners has a consensus rating of "Hold" and a consensus target price of $40.12.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $36.58 on Thursday. The stock has a market cap of $78.99 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 1.32 and a beta of 0.50. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 1-year low of $30.02 and a 1-year high of $40.17. The stock's 50-day moving average is $37.80 and its 200-day moving average is $37.80.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $13.69 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The business's quarterly revenue was up 60.8% on a year-over-year basis. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 3.10 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a $0.56 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.24 annualized dividend and a yield of 6.1%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 77.78%.

About Enterprise Products Partners

Enterprise Products Partners L.P. NYSE: EPD is a North American midstream energy partnership headquartered in Houston, Texas. The company provides infrastructure and services for the transportation, storage, processing and export of energy products, connecting producers with domestic and international markets.

Its operations include pipelines, storage facilities, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, and marine terminals. Enterprise handles NGLs such as ethane, propane, butanes and natural gasoline, as well as crude oil, refined products, petrochemicals and natural gas.

Want to see what other hedge funds are holding EPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enterprise Products Partners L.P. (NYSE:EPD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.