Cypress Capital Group Invests $556,000 in Enterprise Products Partners L.P. $EPD

Cypress Capital Group bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,682 shares of the oil and gas producer’s stock, valued at approximately $556,000.

A number of other large investors also recently made changes to their positions in EPD. Everest Financial Group LLC lifted its holdings in Enterprise Products Partners by 3.6% during the 1st quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock worth $298,000 after purchasing an additional 271 shares during the last quarter. Walker Asset Management LLC grew its holdings in Enterprise Products Partners by 1.5% in the 1st quarter. Walker Asset Management LLC now owns 19,974 shares of the oil and gas producer’s stock valued at $756,000 after buying an additional 296 shares in the last quarter. Hunter Associates Investment Management LLC grew its holdings in Enterprise Products Partners by 3.8% in the 1st quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock valued at $307,000 after buying an additional 300 shares in the last quarter. ORG Wealth Partners LLC increased its position in Enterprise Products Partners by 0.5% during the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock worth $2,125,000 after buying an additional 317 shares during the period. Finally, Mission Wealth Management LP lifted its holdings in shares of Enterprise Products Partners by 1.0% during the fourth quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after buying an additional 328 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of recent research reports. UBS Group reissued a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Jefferies Financial Group raised their price target on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research report on Tuesday, March 31st. Scotiabank reiterated a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Morgan Stanley set a $40.00 target price on shares of Enterprise Products Partners and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Finally, Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Hold” and an average target price of $39.93.

Enterprise Products Partners Stock Down 0.1%

Shares of NYSE EPD opened at $38.71 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The stock has a market capitalization of $83.68 billion, a P/E ratio of 14.34, a PEG ratio of 1.41 and a beta of 0.49. The stock’s fifty day moving average is $37.67 and its 200 day moving average is $36.77.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). The firm had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.93 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.56 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. Enterprise Products Partners’s payout ratio is currently 81.48%.

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.