GSA Capital Partners LLP Buys New Position in Enterprise Products Partners L.P. $EPD

Key Points

• GSA Capital Partners initiated a position in Enterprise Products Partners during the second quarter, purchasing 48,539 shares valued at approximately $1.78 million. Institutional investors and hedge funds collectively own 26.07% of EPD.
• Enterprise Products Partners reported stronger-than-expected quarterly results, with earnings of $0.84 per share versus estimates of $0.75 and revenue of $18.27 billion, up 60.8% year over year.
• The company increased its quarterly dividend to $0.56 per share, equivalent to $2.24 annually and a 5.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $39.93.

GSA Capital Partners LLP bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 48,539 shares of the oil and gas producer's stock, valued at approximately $1,784,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners in the third quarter valued at approximately $31,000. Bravera Wealth lifted its holdings in Enterprise Products Partners by 666.7% during the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer's stock worth $38,000 after buying an additional 900 shares in the last quarter. West Paces Advisors Inc. acquired a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $55,000. Kestra Investment Management LLC purchased a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $48,000. Finally, Tucker Asset Management LLC purchased a new position in Enterprise Products Partners in the 4th quarter valued at approximately $55,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $38.84 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a fifty day moving average price of $37.58 and a 200 day moving average price of $37.37. The company has a market cap of $83.88 billion, a P/E ratio of 13.49, a PEG ratio of 1.30 and a beta of 0.49. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.09. The company had revenue of $18.27 billion for the quarter, compared to analysts' expectations of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.Enterprise Products Partners's quarterly revenue was up 60.8% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

Analyst Upgrades and Downgrades

EPD has been the topic of a number of recent research reports. Morgan Stanley set a $40.00 price objective on Enterprise Products Partners and gave the stock an "underweight" rating in a research report on Tuesday, July 21st. TD Cowen reiterated a "hold" rating and issued a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Wall Street Zen upgraded Enterprise Products Partners from a "buy" rating to a "strong-buy" rating in a report on Sunday. Stifel Nicolaus increased their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $39.93.

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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