Caprock Group LLC Takes Position in Enterprise Products Partners L.P. $EPD

Caprock Group LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 93,904 shares of the oil and gas producer’s stock, valued at approximately $3,018,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Winnow Wealth LLC purchased a new stake in Enterprise Products Partners during the second quarter worth $28,000. Traub Capital Management LLC purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter worth about $31,000. Financial Consulate Inc. acquired a new stake in Enterprise Products Partners in the 3rd quarter valued at about $33,000. Davis Capital Management purchased a new position in Enterprise Products Partners during the 3rd quarter valued at about $45,000. Finally, Hantz Financial Services Inc. raised its position in Enterprise Products Partners by 80.7% during the third quarter. Hantz Financial Services Inc. now owns 1,545 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 690 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insider Buying and Selling

In related news, Director John R. Rutherford purchased 15,000 shares of the business’s stock in a transaction on Monday, December 29th. The shares were bought at an average price of $32.09 per share, with a total value of $481,350.00. Following the completion of the purchase, the director directly owned 173,586 shares in the company, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 32.60% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $35.37 on Friday. The business has a fifty day simple moving average of $32.84 and a 200-day simple moving average of $31.97. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $35.92. The company has a market cap of $76.52 billion, a P/E ratio of 13.30, a P/E/G ratio of 2.52 and a beta of 0.60. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. Enterprise Products Partners had a return on equity of 19.43% and a net margin of 11.05%.The firm had revenue of $13.79 billion for the quarter, compared to analyst estimates of $12.44 billion. During the same period last year, the company earned $0.74 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners declared that its Board of Directors has authorized a share buyback plan on Thursday, October 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas producer to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a $0.55 dividend. The ex-dividend date is Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a yield of 6.2%. Enterprise Products Partners’s payout ratio is presently 82.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EPD. Barclays reiterated an “overweight” rating and issued a $38.00 price target (up from $35.00) on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $40.00 target price on shares of Enterprise Products Partners in a report on Wednesday, February 4th. Wells Fargo & Company boosted their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Raymond James Financial lowered Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective on the stock. in a research note on Monday, January 5th. Finally, Scotiabank reiterated a “sector perform” rating and set a $37.00 price objective (up previously from $35.00) on shares of Enterprise Products Partners in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Hold” and an average target price of $36.00.

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.