Pin Oak Investment Advisors Inc. Buys New Holdings in Enterprise Products Partners L.P. $EPD

Key Points

• Pin Oak Investment Advisors initiated a position of 129,094 EPD shares worth approximately $4.75 million, making Enterprise Products Partners its seventh-largest holding and 2.5% of its portfolio.
• Enterprise Products Partners beat quarterly estimates with $0.84 EPS versus $0.75 expected and $18.27 billion in revenue, up 60.8% year over year. The partnership also raised its quarterly dividend to $0.56, representing a 5.7% annualized yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average $40 price target, compared with the stock’s reported $38.97 market price; institutional investors and hedge funds own 26.07% of the company.

Pin Oak Investment Advisors Inc. bought a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 129,094 shares of the oil and gas producer's stock, valued at approximately $4,746,000. Enterprise Products Partners accounts for 2.5% of Pin Oak Investment Advisors Inc.'s investment portfolio, making the stock its 7th biggest holding.

A number of other institutional investors have also recently bought and sold shares of EPD. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners in the 3rd quarter valued at $31,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at about $37,000. Bravera Wealth increased its stake in Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer's stock valued at $38,000 after acquiring an additional 900 shares during the period. Kestra Investment Management LLC bought a new stake in Enterprise Products Partners in the second quarter valued at about $48,000. Finally, BOK Financial Private Wealth Inc. acquired a new position in Enterprise Products Partners in the second quarter worth about $48,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Stock Down 0.2%

Shares of EPD opened at $38.97 on Friday. The company has a market capitalization of $84.15 billion, a P/E ratio of 13.53, a PEG ratio of 1.28 and a beta of 0.49. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The business's 50 day simple moving average is $37.89 and its 200-day simple moving average is $37.66. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.09. The firm had revenue of $18.27 billion during the quarter, compared to analysts' expectations of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business's revenue was up 60.8% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 3.03 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.56 dividend. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners's dividend payout ratio (DPR) is presently 77.78%.

Wall Street Analyst Weigh In

A number of brokerages have commented on EPD. UBS Group restated a "buy" rating and set a $45.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Morgan Stanley reissued an "underweight" rating and issued a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. Truist Financial raised their target price 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. Citigroup reiterated a "buy" rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded shares of Enterprise Products Partners from a "buy (b)" rating to a "buy (a-)" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $40.00.

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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