Mcguire Capital Advisors Inc. Purchases New Position in Enterprise Products Partners L.P. $EPD

Key Points

• Mcguire Capital Advisors opened a new position in Enterprise Products Partners, buying 49,437 shares valued at about $1.585 million. The stake now represents roughly 1.0% of the firm’s portfolio.
• Analysts remain mixed on EPD: several firms raised price targets, but the overall consensus rating is still Hold with an average target price of about $39.94.
• Enterprise Products Partners reported quarterly EPS of $0.68, missing estimates, while revenue came in above expectations at $14.39 billion. The company also paid a quarterly dividend of $0.55, equal to a 6.0% yield annualized.

Mcguire Capital Advisors Inc. acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 49,437 shares of the oil and gas producer's stock, valued at approximately $1,585,000. Enterprise Products Partners makes up about 1.0% of Mcguire Capital Advisors Inc.'s investment portfolio, making the stock its 24th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arete Wealth Advisors LLC boosted its holdings in Enterprise Products Partners by 1.5% during the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer's stock worth $661,000 after buying an additional 317 shares in the last quarter. ORG Wealth Partners LLC increased its holdings in Enterprise Products Partners by 0.5% in the fourth quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer's stock valued at $2,125,000 after buying an additional 317 shares in the last quarter. Walker Asset Management LLC raised its position in shares of Enterprise Products Partners by 1.7% in the fourth quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer's stock worth $631,000 after acquiring an additional 326 shares during the period. Mission Wealth Management LP raised its position in shares of Enterprise Products Partners by 1.0% in the fourth quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer's stock worth $1,037,000 after acquiring an additional 328 shares during the period. Finally, Montag A & Associates Inc. boosted its stake in shares of Enterprise Products Partners by 5.9% during the 4th quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer's stock worth $189,000 after acquiring an additional 330 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EPD. Jefferies Financial Group lifted their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the company a "hold" rating in a research note on Tuesday, March 31st. Weiss Ratings raised Enterprise Products Partners from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday. Royal Bank Of Canada boosted their price objective on Enterprise Products Partners from $40.00 to $42.00 and gave the company an "outperform" rating in a research report on Monday, March 30th. UBS Group reaffirmed a "buy" rating and set a $45.00 target price on shares of Enterprise Products Partners in a research note on Wednesday. Finally, 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 research report on Wednesday, May 20th. Nine investment 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's stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has an average rating of "Hold" and a consensus target price of $39.94.

Enterprise Products Partners Trading Up 0.2%

Shares of Enterprise Products Partners stock opened at $36.60 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The firm has a market capitalization of $79.12 billion, a PE ratio of 13.56, a P/E/G ratio of 1.30 and a beta of 0.49. The firm's 50-day moving average price is $37.90 and its 200 day moving average price is $35.80.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced 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 firm 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%. Enterprise Products Partners's revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 EPS. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a $0.55 dividend. The ex-dividend date was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a yield of 6.0%. Enterprise Products Partners's dividend payout ratio (DPR) 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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