Macquarie Group Ltd. Raises Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Macquarie Group Ltd. grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 103.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 111,516 shares of the oil and gas producer’s stock after purchasing an additional 56,788 shares during the period. Macquarie Group Ltd.’s holdings in Enterprise Products Partners were worth $2,888,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in EPD. Clear Creek Financial Management LLC increased its position in shares of Enterprise Products Partners by 3.4% during the first quarter. Clear Creek Financial Management LLC now owns 11,697 shares of the oil and gas producer’s stock valued at $303,000 after purchasing an additional 380 shares during the period. PSI Advisors LLC increased its position in shares of Enterprise Products Partners by 2.0% during the first quarter. PSI Advisors LLC now owns 20,131 shares of the oil and gas producer’s stock valued at $521,000 after purchasing an additional 386 shares during the period. Whitener Capital Management Inc. grew its position in Enterprise Products Partners by 1.1% in the first quarter. Whitener Capital Management Inc. now owns 35,830 shares of the oil and gas producer’s stock valued at $928,000 after acquiring an additional 391 shares during the period. Sandy Spring Bank grew its position in Enterprise Products Partners by 3.4% in the first quarter. Sandy Spring Bank now owns 12,277 shares of the oil and gas producer’s stock valued at $318,000 after acquiring an additional 400 shares during the period. Finally, Sittner & Nelson LLC grew its position in Enterprise Products Partners by 4.2% in the first quarter. Sittner & Nelson LLC now owns 9,904 shares of the oil and gas producer’s stock valued at $257,000 after acquiring an additional 400 shares during the period. 26.54% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $27.03 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.67 and a current ratio of 0.91. Enterprise Products Partners L.P. has a 52 week low of $22.90 and a 52 week high of $27.28. The stock has a market capitalization of $58.70 billion, a PE ratio of 10.94 and a beta of 1.08. The stock’s fifty day moving average is $26.67 and its 200-day moving average is $26.24.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.02). Enterprise Products Partners had a net margin of 10.39% and a return on equity of 19.71%. The firm had revenue of $10.65 billion for the quarter, compared to analyst estimates of $12.34 billion. During the same period last year, the company earned $0.64 EPS. The company’s revenue was down 33.7% compared to the same quarter last year. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.52 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.40%. The ex-dividend date was Friday, July 28th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.49. Enterprise Products Partners’s dividend payout ratio is 80.97%.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of analyst reports. Mizuho upped their price target on Enterprise Products Partners from $32.00 to $33.00 in a research report on Wednesday, July 19th. StockNews.com initiated coverage on Enterprise Products Partners in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. TD Securities lowered their price target on Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $33.00 price target on shares of Enterprise Products Partners in a research report on Thursday, July 20th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.70.

Insider Activity

In related news, Director William C. Montgomery bought 50,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were purchased at an average price of $26.60 per share, with a total value of $1,330,000.00. Following the completion of the purchase, the director now owns 114,758 shares of the company’s stock, valued at approximately $3,052,562.80. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 32.60% of the stock is currently owned by insiders.

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.