Kercheville Advisors LLC Raises Stock Position in Enterprise Products Partners L.P. $EPD

Key Points

• Kercheville Advisors LLC boosted its stake in Enterprise Products Partners by 129.3% in the first quarter, ending with 93,320 shares valued at about $3.53 million.
• Enterprise Products Partners recently reported Q1 EPS of $0.68, missing estimates by $0.03, while revenue came in at $14.39 billion, above analyst expectations.
• The company paid a $0.55 quarterly dividend, equal to an annualized yield of about 5.9%, and Wall Street currently has a Hold consensus rating with a $39.94 average price target.

Kercheville Advisors LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 129.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,320 shares of the oil and gas producer's stock after acquiring an additional 52,620 shares during the period. Enterprise Products Partners comprises approximately 1.1% of Kercheville Advisors LLC's investment portfolio, making the stock its 26th biggest holding. Kercheville Advisors LLC's holdings in Enterprise Products Partners were worth $3,531,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of EPD. Auto Owners Insurance Co raised its position in Enterprise Products Partners by 3,106.0% during the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer's stock valued at $102,784,000 after purchasing an additional 31,060,000 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Enterprise Products Partners during the 3rd quarter worth $292,194,000. Goldman Sachs Group Inc. increased its stake in shares of Enterprise Products Partners by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer's stock valued at $582,317,000 after buying an additional 1,940,583 shares during the period. Corient Private Wealth LLC increased its stake in shares of Enterprise Products Partners by 119.4% during the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer's stock valued at $74,859,000 after buying an additional 1,313,976 shares during the period. Finally, Barclays PLC raised its holdings in shares of Enterprise Products Partners by 57.5% in the fourth quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer's stock valued at $93,874,000 after acquiring an additional 1,069,304 shares in the last quarter. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

EPD opened at $37.17 on Wednesday. The business's 50-day moving average is $37.84 and its two-hundred day moving average is $35.90. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The firm has a market capitalization of $80.35 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $14.39 billion for the quarter, compared to analysts' expectations of $13.62 billion. During the same period 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. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were given 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 5.9%. Enterprise Products Partners's dividend payout ratio is presently 81.48%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EPD. Morgan Stanley reiterated an "underweight" rating and set a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. JPMorgan Chase & Co. upped their price target on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 12th. Jefferies Financial Group upped their price target on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a "hold" rating in a research report on Tuesday, March 31st. Wolfe Research raised shares of Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Finally, Weiss Ratings raised shares of Enterprise Products Partners from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday, June 15th. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $39.94.

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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