Texas Capital Bank Wealth Management Services Inc Has $1.29 Million Position in Enterprise Products Partners L.P. $EPD

Key Points

• Texas Capital Bank Wealth Management Services increased its stake in Enterprise Products Partners by 407.5% in the fourth quarter, ending with 40,226 shares valued at about $1.29 million.
• Several other institutional investors also boosted holdings, and overall 26.07% of the stock is owned by institutions and hedge funds.
• Analyst sentiment is mixed: the stock has an average Hold rating with a consensus price target of $39.67, while the shares recently traded near $38.03 after the company reported earnings that missed EPS estimates but beat revenue expectations.

Texas Capital Bank Wealth Management Services Inc grew its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 407.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,226 shares of the oil and gas producer's stock after purchasing an additional 32,300 shares during the period. Texas Capital Bank Wealth Management Services Inc's holdings in Enterprise Products Partners were worth $1,290,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock worth $1,023,000 after buying an additional 5,425 shares during the period. Schnieders Capital Management LLC. boosted its position in Enterprise Products Partners by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer's stock worth $1,827,000 after buying an additional 5,000 shares during the period. Geode Capital Management LLC boosted its position in Enterprise Products Partners by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer's stock worth $1,975,000 after buying an additional 3,742 shares during the period. Guggenheim Capital LLC boosted its position in Enterprise Products Partners by 6.1% during the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer's stock worth $847,000 after buying an additional 1,578 shares during the period. Finally, Glenview Trust co boosted its position in Enterprise Products Partners by 315.8% during the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer's stock worth $1,043,000 after buying an additional 25,555 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EPD shares. Royal Bank Of Canada lifted their target price on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an "outperform" rating in a research report on Monday, March 30th. Scotiabank reiterated a "sector perform" rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. JPMorgan Chase & Co. lifted their target price on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 12th. Wall Street Zen downgraded shares of Enterprise Products Partners from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $39.00 target price on shares of Enterprise Products Partners in a research report on Thursday, May 14th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $39.67.

Enterprise Products Partners Stock Down 1.0%

Enterprise Products Partners stock opened at $38.03 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17. The firm has a 50 day moving average price of $38.15 and a two-hundred day moving average price of $35.21. The firm has a market cap of $82.21 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 1.43 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter in the previous year, the business posted $0.64 EPS. The firm's revenue for the quarter was down 6.7% compared to the same quarter last year. Equities analysts predict that Enterprise Products Partners L.P. will post 2.95 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a $0.55 dividend. The ex-dividend date was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 5.8%. Enterprise Products Partners's payout ratio is currently 81.48%.

Insider Buying and Selling at Enterprise Products Partners

In related news, CEO Aj Teague acquired 2,665 shares of the stock in a transaction dated Friday, March 20th. The stock was bought at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the purchase, the chief executive officer directly owned 77,576 shares of the company's stock, valued at $2,912,978.80. The trade was a 3.56% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 32.60% of the stock is owned by corporate insiders.

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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