Northern Right Capital Management L.P. Takes $3.29 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Northern Right Capital Management L.P. purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 105,000 shares of the oil and gas producer's stock, valued at approximately $3,293,000. Enterprise Products Partners accounts for about 1.2% of Northern Right Capital Management L.P.'s investment portfolio, making the stock its 19th largest holding.

A number of other institutional investors also recently modified their holdings of EPD. Rosenberg Matthew Hamilton boosted its stake in Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock valued at $26,000 after buying an additional 656 shares during the period. Tidemark LLC raised its stake in Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after purchasing an additional 318 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in Enterprise Products Partners in the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners in the 4th quarter worth $30,000. Finally, National Bank of Canada FI lifted its holdings in shares of Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 360 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EPD has been the subject of a number of research reports. Truist Financial upped their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. JPMorgan Chase & Co. lifted their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. StockNews.com raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Citigroup reiterated a "buy" rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.89.

Enterprise Products Partners Stock Down 0.9 %

Shares of NYSE:EPD traded down $0.28 during trading on Wednesday, reaching $29.98. 2,914,803 shares of the stock traded hands, compared to its average volume of 4,379,984. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. The stock has a 50-day moving average of $32.26 and a two-hundred day moving average of $31.97. The stock has a market cap of $64.93 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 earnings per share. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 7.14%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio is presently 79.55%.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.