Karras Company Inc. Invests $1.21 Million in Enterprise Products Partners L.P. $EPD

Key Points

• Karras Company Inc. initiated a new position in Enterprise Products Partners during the fourth quarter, buying 37,742 shares valued at about $1.21 million. The stake now makes up roughly 1.2% of Karras’s portfolio.
• Enterprise Products Partners reported Q1 earnings of $0.68 per share, missing analyst expectations, though revenue came in at $14.39 billion and beat estimates. The company also posted a 6.7% decline in quarterly revenue year over year.
• The partnership continues to offer an attractive payout, declaring a quarterly dividend of $0.55 per share, or $2.20 annually, for a 5.6% yield. Analysts currently have a consensus rating of Hold with a target price of $39.67.

Karras Company Inc. acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 37,742 shares of the oil and gas producer's stock, valued at approximately $1,210,000. Enterprise Products Partners comprises about 1.2% of Karras Company Inc.'s portfolio, making the stock its 23rd biggest position.

Other large investors also recently added to or reduced their stakes in the company. PMV Capital Advisers LLC bought a new stake in Enterprise Products Partners during the fourth quarter worth approximately $25,000. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners during the third quarter worth approximately $31,000. Texas Capital Bancshares Inc TX bought a new stake in Enterprise Products Partners during the third quarter worth approximately $32,000. Abich Financial Wealth Management LLC bought a new stake in Enterprise Products Partners during the third quarter worth approximately $32,000. Finally, Daytona Street Capital LLC bought a new stake in Enterprise Products Partners during the fourth quarter worth approximately $42,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Up 0.2%

EPD opened at $39.55 on Friday. The stock has a market cap of $85.49 billion, a price-to-earnings ratio of 14.65, a P/E/G ratio of 1.47 and a beta of 0.52. The stock's 50 day moving average price is $38.05 and its 200-day moving average price is $35.01. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its 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). The business had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company's quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.95 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid 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 dividend yield of 5.6%. Enterprise Products Partners's dividend payout ratio is currently 81.48%.

Analysts Set New Price Targets

Several brokerages have weighed in on EPD. Wells Fargo & Company raised Enterprise Products Partners from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $40.00 to $42.00 in a research note on Wednesday, March 25th. Truist Financial boosted their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a research note on Monday, May 4th. UBS Group reissued a "buy" rating on shares of Enterprise Products Partners in a research note on Wednesday, March 4th. Royal Bank Of Canada boosted their price objective on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an "outperform" rating in a research note on Monday, March 30th. Finally, Scotiabank reissued a "sector perform" rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of "Hold" and a consensus target price of $39.67.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of the business's stock in a transaction dated Friday, March 20th. The shares were purchased at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the purchase, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. This represents a 3.56% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 32.60% of the company's stock.

Enterprise Products Partners 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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