Texas Capital Bank Wealth Management Services Inc Invests $1.47 Million in Enterprise Products Partners L.P. $EPD

Key Points

• Texas Capital Bank Wealth Management Services acquired 40,082 shares of Enterprise Products Partners valued at approximately $1.47 million during the second quarter. Institutional investors collectively own 26.07% of EPD.
• Enterprise Products Partners reported quarterly EPS of $0.84, beating estimates of $0.75, while revenue rose 60.8% year over year to $18.27 billion. The company also increased its quarterly dividend to $0.56, representing a 5.8% annualized yield.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $39.93, compared with EPD’s opening price of $38.61.

Texas Capital Bank Wealth Management Services Inc acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,082 shares of the oil and gas producer's stock, valued at approximately $1,473,000.

Several other large investors have also bought and sold shares of EPD. Brighton Jones LLC raised its position in Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock worth $1,023,000 after acquiring an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. lifted its holdings in Enterprise Products Partners by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer's stock valued at $1,827,000 after acquiring an additional 5,000 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 valued at $1,975,000 after purchasing an additional 3,742 shares in the last quarter. Guggenheim Capital LLC grew its stake in shares of Enterprise Products Partners by 6.1% in the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer's stock worth $847,000 after purchasing an additional 1,578 shares during the last quarter. Finally, Glenview Trust co grew its stake in shares of Enterprise Products Partners by 315.8% in the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer's stock worth $1,043,000 after purchasing an additional 25,555 shares during the last quarter. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

NYSE EPD opened at $38.61 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. 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 market cap of $83.38 billion, a PE ratio of 13.41, a PEG ratio of 1.30 and a beta of 0.49. The stock's 50-day moving average price is $37.60 and its two-hundred day moving average price is $37.41.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. The company had revenue of $18.27 billion during the quarter, compared to analysts' expectations of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business's revenue for the quarter was up 60.8% on a year-over-year basis. During the same period last year, the company posted $0.66 earnings per share. On average, analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a $0.56 dividend. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 5.8%. Enterprise Products Partners's payout ratio is currently 77.78%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EPD. TD Cowen reissued a "hold" rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Stifel Nicolaus lifted their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Truist Financial upped their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the company a "hold" rating in a report on Monday, May 4th. Scotiabank reiterated a "sector perform" rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Finally, Morgan Stanley set a $40.00 price objective on Enterprise Products Partners and gave the stock an "underweight" rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $39.93.

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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