Royal Palms Capital LLC Makes New Investment in Enterprise Products Partners L.P. $EPD

Key Points

• Royal Palms Capital opened a new position in Enterprise Products Partners, buying 57,090 shares worth about $1.83 million in the fourth quarter. The stake represents about 2.2% of the firm’s holdings.
• Insider activity was positive: CEO Aj Teague bought 2,665 shares at $37.55 each, a purchase valued at about $100,071. After the transaction, he owned 77,576 shares.
• Enterprise Products Partners reported mixed quarterly results, missing earnings expectations with EPS of $0.68 versus $0.71 expected, but revenue came in above forecasts at $14.39 billion. The company also maintained a 5.7% dividend yield with a quarterly payout of $0.55 per share.

Royal Palms Capital LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 57,090 shares of the oil and gas producer's stock, valued at approximately $1,830,000. Enterprise Products Partners accounts for approximately 2.2% of Royal Palms Capital LLC's holdings, making the stock its 23rd largest position.

Several other hedge funds have also recently bought and sold shares of the stock. King Wealth Management Group grew its stake in shares of Enterprise Products Partners by 36.5% during the 4th quarter. King Wealth Management Group now owns 29,824 shares of the oil and gas producer's stock worth $956,000 after acquiring an additional 7,972 shares in the last quarter. Integrity Alliance LLC. grew its stake in shares of Enterprise Products Partners by 26.0% during the 4th quarter. Integrity Alliance LLC. now owns 114,931 shares of the oil and gas producer's stock worth $3,685,000 after acquiring an additional 23,681 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of Enterprise Products Partners by 43.2% during the 4th quarter. Bleakley Financial Group LLC now owns 32,315 shares of the oil and gas producer's stock worth $1,036,000 after acquiring an additional 9,742 shares in the last quarter. Cary Street Partners Financial LLC grew its stake in shares of Enterprise Products Partners by 7.7% during the 4th quarter. Cary Street Partners Financial LLC now owns 51,258 shares of the oil and gas producer's stock worth $1,643,000 after acquiring an additional 3,678 shares in the last quarter. Finally, MSH Capital Advisors LLC grew its stake in shares of Enterprise Products Partners by 126.2% during the 4th quarter. MSH Capital Advisors LLC now owns 53,154 shares of the oil and gas producer's stock worth $1,704,000 after acquiring an additional 29,651 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Enterprise Products Partners

In other news, CEO Aj Teague bought 2,665 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average cost of $37.55 per share, with a total value of $100,070.75. Following the completion of the purchase, the chief executive officer owned 77,576 shares of the company's stock, valued at $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 32.60% of the company's stock.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $38.36 on Wednesday. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The firm has a fifty day simple moving average of $38.14 and a 200 day simple moving average of $35.16. The stock has a market capitalization of $82.93 billion, a PE ratio of 14.21, a P/E/G ratio of 1.47 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released 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). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. During the same period in the prior year, the business posted $0.64 earnings per share. Enterprise Products Partners's quarterly revenue was down 6.7% compared to the same quarter last year. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.95 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced 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 of this dividend was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 5.7%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 81.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EPD shares. JPMorgan Chase & Co. raised their price target on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 12th. Morgan Stanley reaffirmed an "underweight" rating and set a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a research note on Wednesday, May 20th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $39.00 price target on shares of Enterprise Products Partners in a research note on Thursday, May 14th. Truist Financial raised their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a research note on Monday, May 4th. Finally, Barclays raised their price target on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, March 5th. Nine research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $39.67.

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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