LPL Financial LLC Raises Position in Enterprise Products Partners L.P. $EPD

Key Points

• LPL Financial LLC boosted its stake in Enterprise Products Partners by 6.3% in the fourth quarter, adding 247,282 shares and bringing its total holding to 4.15 million shares worth about $133.2 million.
• Enterprise Products Partners reported Q1 earnings of $0.68 per share, missing estimates, even as revenue of $14.39 billion topped expectations; analysts still expect full-year EPS of 2.98.
• The partnership paid a quarterly dividend of $0.55 per share, implying an annualized yield of 5.8%, while analysts currently hold a consensus rating of Hold with an average target price of $39.67.

LPL Financial LLC increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,153,365 shares of the oil and gas producer's stock after acquiring an additional 247,282 shares during the period. LPL Financial LLC owned approximately 0.19% of Enterprise Products Partners worth $133,157,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EPD. PMV Capital Advisers LLC acquired a new position in Enterprise Products Partners during the fourth quarter worth $25,000. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners during the third quarter worth $31,000. Abich Financial Wealth Management LLC acquired a new position in Enterprise Products Partners during the third quarter worth $32,000. Texas Capital Bancshares Inc TX acquired a new position in Enterprise Products Partners during the third quarter worth $32,000. Finally, Daytona Street Capital LLC acquired a new position in Enterprise Products Partners during the fourth quarter worth $42,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Stock Up 1.6%

EPD opened at $37.94 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The firm has a market cap of $82.02 billion, a P/E ratio of 14.05, a PEG ratio of 1.33 and a beta of 0.49. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The business's fifty day simple moving average is $38.02 and its 200 day simple moving average is $35.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm's revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors 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 5.8%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 81.48%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EPD shares. Citigroup reaffirmed a "buy" rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on Enterprise Products Partners from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Tuesday, May 12th. Royal Bank Of Canada upped their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the company an "outperform" rating in a report on Monday, March 30th. UBS Group restated a "buy" rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Finally, Truist Financial raised their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the company a "hold" rating in a research report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Enterprise Products Partners currently has an average rating of "Hold" and an average target price of $39.67.

Insider Activity at Enterprise Products Partners

In related news, CEO Aj Teague acquired 2,665 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The shares were acquired 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 directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. The trade was a 3.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 32.60% of the stock is currently owned by insiders.

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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