Enterprise Products Partners L.P. $EPD Stock Position Boosted by Markel Group Inc.

Key Points

• Markel Group increased its EPD stake 7.6% in the third quarter, adding 43,000 shares to bring its holdings to 612,000 shares, valued at about $21.8 million. Other institutional investors also reported increasing or initiating positions.
• Enterprise Products Partners reported quarterly EPS of $0.75, in line with estimates, while revenue reached $17.95 billion—49.3% higher than a year earlier and above analyst forecasts.
• The partnership declared a quarterly dividend of $0.56 per share, equivalent to a 6.0% annualized yield. Analysts’ consensus rating was Hold, with an average price target of $40.18.

Markel Group Inc. boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 612,000 shares of the oil and gas producer's stock after purchasing an additional 43,000 shares during the period. Markel Group Inc.'s holdings in Enterprise Products Partners were worth $21,793,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Provenance Wealth Advisors LLC lifted its stake in Enterprise Products Partners by 58.4% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 7,855 shares of the oil and gas producer's stock valued at $280,000 after acquiring an additional 2,895 shares in the last quarter. Hughes Financial Services LLC lifted its position in Enterprise Products Partners by 43.7% during the 3rd quarter. Hughes Financial Services LLC now owns 1,006 shares of the oil and gas producer's stock worth $39,000 after buying an additional 306 shares in the last quarter. Associated Banc Corp acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth about $889,000. Stiles Financial Services Inc boosted its stake in shares of Enterprise Products Partners by 12.8% during the 3rd quarter. Stiles Financial Services Inc now owns 6,375 shares of the oil and gas producer's stock worth $227,000 after buying an additional 722 shares during the last quarter. Finally, Challenger Wealth Management boosted its stake in shares of Enterprise Products Partners by 8.3% during the 3rd quarter. Challenger Wealth Management now owns 10,728 shares of the oil and gas producer's stock worth $382,000 after buying an additional 822 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $37.45 on Wednesday. The company has a fifty day moving average price of $37.64 and a two-hundred day moving average price of $37.31. Enterprise Products Partners L.P. has a one year low of $30.02 and a one year high of $40.17. The stock has a market cap of $80.87 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.32 and a beta of 0.48. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The oil and gas producer reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. The company had revenue of $17.95 billion for the quarter, compared to analyst estimates of $14.98 billion. Enterprise Products Partners had a net margin of 10.24% and a return on equity of 21.50%. Enterprise Products Partners's revenue for the quarter was up 49.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 3.11 EPS 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 issued a dividend of $0.56 per share. The ex-dividend date is Friday, October 30th. This represents a $2.24 dividend on an annualized basis and a yield of 6.0%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 74.17%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wall Street Zen cut Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Saturday. Capital One Financial initiated coverage on Enterprise Products Partners in a research report on Tuesday, September 22nd. They set an "equal weight" rating and a $42.00 price target for the company. Weiss Ratings upgraded Enterprise Products Partners from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, October 16th. TD Cowen reaffirmed a "hold" rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Enterprise Products Partners in a research report on Monday. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $40.18.

Enterprise Products Partners Company Profile

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.

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