AlTi Global Inc. Takes $888,000 Position in Enterprise Products Partners L.P. $EPD

AlTi Global Inc. purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,465 shares of the oil and gas producer’s stock, valued at approximately $888,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alps Advisors Inc. grew its holdings in Enterprise Products Partners by 0.6% in the 4th quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after buying an additional 260,305 shares in the last quarter. Auto Owners Insurance Co grew its holdings in shares of Enterprise Products Partners by 3,106.0% in the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after purchasing an additional 31,060,000 shares during the period. Morgan Stanley increased its position in Enterprise Products Partners by 4.8% during the fourth quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock worth $612,870,000 after purchasing an additional 883,983 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Enterprise Products Partners by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after purchasing an additional 1,940,583 shares during the period. Finally, Energy Income Partners LLC raised its stake in Enterprise Products Partners by 0.6% during the third quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock worth $459,829,000 after purchasing an additional 80,884 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 1.4%

Shares of NYSE EPD opened at $38.75 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $83.76 billion, a PE ratio of 14.35, a PEG ratio of 1.37 and a beta of 0.49. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The stock has a fifty day simple moving average of $37.67 and a 200-day simple moving average of $36.59.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The firm had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 earnings per share. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.97 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.48%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EPD. Citigroup reissued a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $42.00 in a report on Wednesday, March 25th. Royal Bank Of Canada raised their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Weiss Ratings downgraded Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Enterprise Products Partners has a consensus rating of “Hold” and a consensus target price of $40.13.

Enterprise Products Partners Company 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.