Simon Quick Advisors LLC Makes New $858,000 Investment in Enterprise Products Partners L.P. $EPD

Key Points

• Simon Quick Advisors LLC initiated a new position in Enterprise Products Partners (NYSE:EPD), buying 26,750 shares worth about $858,000 in the fourth quarter, according to its 13F filing.
• EPD pays a quarterly dividend of $0.55 (annualized $2.20), implying a ~5.8% yield; the company has a market cap near $82.2B and a P/E of about 14.3.
• Enterprise beat quarterly expectations (EPS $0.75 vs. $0.69 est.), the CEO recently purchased ~2,665 shares (~$100k), and analysts hold a consensus rating of "Moderate Buy" with an average $38.27 price target.

Simon Quick Advisors LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 26,750 shares of the oil and gas producer's stock, valued at approximately $858,000.

A number of other institutional investors have also modified their holdings of the stock. Energy Income Partners LLC lifted its position in shares of Enterprise Products Partners by 0.6% during the third 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Enterprise Products Partners by 1.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,570,499 shares of the oil and gas producer's stock valued at $361,810,000 after buying an additional 214,995 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in Enterprise Products Partners in the third quarter valued at about $292,194,000. Berkley W R Corp raised its stake in Enterprise Products Partners by 17.9% during the third quarter. Berkley W R Corp now owns 6,000,000 shares of the oil and gas producer's stock valued at $187,620,000 after buying an additional 910,206 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Enterprise Products Partners by 8.6% during the third quarter. Thrivent Financial for Lutherans now owns 4,182,229 shares of the oil and gas producer's stock valued at $130,778,000 after buying an additional 331,066 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Stock Up 0.0%

Enterprise Products Partners stock opened at $38.00 on Monday. The company has a 50-day simple moving average of $37.35 and a 200-day simple moving average of $34.05. The firm has a market capitalization of $82.16 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.45 and a beta of 0.55. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.74 and a current ratio of 1.04. Enterprise Products Partners L.P. has a one year low of $29.66 and a one year high of $39.74.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.06. The firm had revenue of $13.79 billion for the quarter, compared to the consensus estimate of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. Enterprise Products Partners's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.74 EPS. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.88 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be paid a $0.55 dividend. The ex-dividend date is Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 5.8%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 82.71%.

Wall Street Analyst Weigh In

EPD has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on Enterprise Products Partners from $35.00 to $39.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 10th. Wells Fargo & Company raised Enterprise Products Partners from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $40.00 to $42.00 in a research report on Wednesday, March 25th. Wolfe Research upgraded Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 21st. Scotiabank lifted their price objective on shares of Enterprise Products Partners from $37.00 to $39.00 and gave the stock a "sector perform" rating in a report on Tuesday, March 17th. Finally, Truist Financial started coverage on shares of Enterprise Products Partners in a report on Tuesday, March 24th. They set a "hold" rating and a $36.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of "Moderate Buy" and a consensus price target of $38.27.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, CEO Aj Teague purchased 2,665 shares of the business's stock in a transaction dated Friday, March 20th. The shares were bought 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 32.60% of the company's stock.

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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