Markel Group Inc. Makes New Investment in Enterprise Products Partners L.P. $EPD

Markel Group Inc. bought a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 202,000 shares of the oil and gas producer's stock, valued at approximately $7,644,000.

A number of other hedge funds have also recently modified their holdings of EPD. Miller Howard Investments Inc. NY grew its position in Enterprise Products Partners by 1.0% in the fourth quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer's stock worth $99,775,000 after acquiring an additional 31,733 shares during the period. Royal Palms Capital LLC purchased a new stake in Enterprise Products Partners in the fourth quarter valued at $1,830,000. Oxbow Advisors LLC lifted its stake in shares of Enterprise Products Partners by 3.0% in the 4th quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer's stock valued at $42,610,000 after purchasing an additional 39,052 shares during the last quarter. Texas Yale Capital Corp. lifted its stake in shares of Enterprise Products Partners by 4.9% in the 4th quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer's stock valued at $61,104,000 after purchasing an additional 88,475 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Enterprise Products Partners by 7.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer's stock worth $144,592,000 after purchasing an additional 327,807 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

Analyst Ratings Changes

EPD has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. Wells Fargo & Company raised shares of Enterprise Products Partners from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $40.00 to $42.00 in a research note on Wednesday, March 25th. Morgan Stanley reissued an "underweight" rating and issued a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a research note on Wednesday, May 20th. Wall Street Zen lowered shares of Enterprise Products Partners from a "buy" rating to a "hold" rating in a report on Sunday. Finally, Royal Bank Of Canada lifted their target price on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an "outperform" rating in a report on Monday, March 30th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of "Hold" and a consensus target price of $40.13.

Enterprise Products Partners Trading Down 0.1%

NYSE:EPD traded down $0.03 on Friday, reaching $37.27. 2,123,631 shares of the company's stock were exchanged, compared to its average volume of 2,623,675. The firm has a market capitalization of $80.56 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.32 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 company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The business has a fifty day moving average of $37.65 and a 200-day moving average of $36.30.

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 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 business had revenue of $14.39 billion during the quarter, compared to analysts' expectations of $13.62 billion. During the same period in the previous year, the business posted $0.64 EPS. The company's revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, analysts expect that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 6.0%. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.55. The ex-dividend date is Friday, July 31st. Enterprise Products Partners's payout ratio is presently 81.48%.

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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