MSH Capital Advisors LLC Raises Stake in Enterprise Products Partners L.P. $EPD

Key Points

• MSH Capital Advisors increased its stake in Enterprise Products Partners by 126.2% in the fourth quarter, adding 29,651 shares to bring its total to 53,154 shares valued at about $1.7 million.
• Analyst sentiment is mixed but slightly cautious: the stock carries a Hold consensus rating with an average target price of $39.67, though several firms recently raised price targets.
• Enterprise Products Partners reported quarterly earnings of $0.68 per share, missing estimates, but revenue of $14.39 billion topped expectations; the company also paid a quarterly dividend of $0.55 per share, yielding about 5.6% annually.

MSH Capital Advisors LLC boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 126.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 53,154 shares of the oil and gas producer's stock after purchasing an additional 29,651 shares during the period. MSH Capital Advisors LLC's holdings in Enterprise Products Partners were worth $1,704,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PMV Capital Advisers LLC purchased a new position in Enterprise Products Partners during the 4th quarter worth $25,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the 3rd quarter worth $31,000. Abich Financial Wealth Management LLC purchased a new position in Enterprise Products Partners during the 3rd quarter worth $32,000. Texas Capital Bancshares Inc TX purchased a new position in Enterprise Products Partners during the 3rd quarter worth $32,000. Finally, Daytona Street Capital LLC purchased a new position in Enterprise Products Partners during the 4th quarter worth $42,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EPD. Morgan Stanley reissued an "underweight" rating and set a $43.00 price objective (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Scotiabank reaffirmed a "sector perform" rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Stifel Nicolaus lifted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. TD Cowen reaffirmed a "hold" rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Finally, Truist Financial lifted their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a "hold" rating in a report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Enterprise Products Partners has an average rating of "Hold" and a consensus target price of $39.67.

Insider Buying and Selling

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 purchased at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the acquisition, the chief executive officer owned 77,576 shares in the company, valued at approximately $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 32.60% of the company's stock.

Enterprise Products Partners Stock Down 0.2%

Shares of NYSE:EPD opened at $39.55 on Tuesday. The company has a market cap of $85.49 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.47 and a beta of 0.52. The firm's 50-day simple moving average is $38.11 and its 200-day simple moving average is $35.10. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). The firm had revenue of $14.39 billion during the quarter, compared to analysts' expectations 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 firm earned $0.64 EPS. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.95 earnings per share for the current 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 issued 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 5.6%. Enterprise Products Partners's payout ratio is currently 81.48%.

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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