McAlvany Wealth Management LLC Invests $2.25 Million in Enterprise Products Partners L.P. $EPD

Key Points

• McAlvany Wealth Management initiated a new position in Enterprise Products Partners, buying 70,336 shares worth about $2.25 million. The stake represents roughly 1.7% of its portfolio.
• Enterprise Products Partners reported Q1 earnings of $0.68 per share, missing estimates, while revenue came in at $14.39 billion, above expectations. Revenue was still down 6.7% from a year earlier.
• The partnership paid a quarterly dividend of $0.55, equal to an annualized yield of about 6.0%. Analysts currently have a Hold consensus on the stock, with a price target around $39.94.

McAlvany Wealth Management LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 70,336 shares of the oil and gas producer's stock, valued at approximately $2,255,000. Enterprise Products Partners makes up approximately 1.7% of McAlvany Wealth Management LLC's investment portfolio, making the stock its 19th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alps Advisors Inc. grew its stake in Enterprise Products Partners by 0.6% during the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer's stock worth $1,367,011,000 after buying an additional 260,305 shares during the period. Auto Owners Insurance Co raised its stake in shares of Enterprise Products Partners by 3,106.0% in 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 acquiring an additional 31,060,000 shares during the period. Morgan Stanley lifted its holdings in shares of Enterprise Products Partners by 4.8% during the 4th quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer's stock valued at $612,870,000 after acquiring an additional 883,983 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Enterprise Products Partners by 12.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer's stock worth $582,317,000 after purchasing an additional 1,940,583 shares during the period. Finally, Energy Income Partners LLC boosted its position in Enterprise Products Partners by 0.6% during the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer's stock worth $459,829,000 after purchasing an additional 80,884 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $36.60 on Friday. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17. The company has a market capitalization of $79.12 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. 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's fifty day moving average price is $37.87 and its 200 day moving average price is $35.81.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued 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 firm had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business's quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a $0.55 dividend. The ex-dividend date was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. Enterprise Products Partners's payout ratio is 81.48%.

Wall Street Analyst Weigh In

Several research firms have commented on EPD. Stifel Nicolaus raised their price objective 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. Barclays upped their target price on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, March 5th. Truist Financial increased their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the company a "hold" rating in a research note on Monday, May 4th. Wolfe Research upgraded Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Finally, Scotiabank reissued a "sector perform" rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Nine investment 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.com, Enterprise Products Partners presently has a consensus rating of "Hold" and a consensus price target of $39.94.

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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