Matrix Private Capital Group LLC Purchases Shares of 14,613 Enterprise Products Partners L.P. $EPD

Matrix Private Capital Group LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,613 shares of the oil and gas producer’s stock, valued at approximately $553,000.

A number of other institutional investors have also recently bought and sold shares of EPD. Walker Asset Management LLC boosted its holdings in shares of Enterprise Products Partners by 1.5% in the first quarter. Walker Asset Management LLC now owns 19,974 shares of the oil and gas producer’s stock worth $756,000 after buying an additional 296 shares during the period. Hunter Associates Investment Management LLC raised its holdings in shares of Enterprise Products Partners by 3.8% during the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock valued at $307,000 after acquiring an additional 300 shares during the period. ORG Wealth Partners LLC raised its holdings in shares of Enterprise Products Partners by 0.5% during the fourth quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock valued at $2,125,000 after acquiring an additional 317 shares during the period. Mission Wealth Management LP lifted its position in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock valued at $1,037,000 after acquiring an additional 328 shares in the last quarter. Finally, Montag A & Associates Inc. lifted its position in shares of Enterprise Products Partners by 5.9% in the 4th quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock valued at $189,000 after acquiring an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on EPD shares. Truist Financial lifted their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 4th. The Goldman Sachs Group reissued a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Jefferies Financial Group lifted their target price on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research note on Tuesday, March 31st. Finally, Scotiabank reiterated a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Hold” and an average price target of $39.93.

Enterprise Products Partners Stock Down 0.2%

EPD stock opened at $38.71 on Friday. The firm has a market cap of $83.68 billion, a PE ratio of 14.34, a PEG ratio of 1.41 and a beta of 0.49. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The company has a fifty day simple moving average of $37.67 and a 200 day simple moving average of $36.74. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data 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). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. During the same period in the prior year, the company posted $0.64 EPS. The business’s revenue was down 6.7% on a year-over-year basis. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.93 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

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.