CORDA Investment Management LLC. Purchases New Position in Enterprise Products Partners L.P. $EPD

CORDA Investment Management LLC. purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 38,009 shares of the oil and gas producer’s stock, valued at approximately $1,397,000.

Several other hedge funds have also recently bought and sold shares of EPD. Miller Howard Investments Inc. NY boosted its holdings in Enterprise Products Partners by 1.0% in the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock valued at $99,775,000 after purchasing an additional 31,733 shares during the period. Royal Palms Capital LLC bought a new position in shares of Enterprise Products Partners during the fourth quarter worth approximately $1,830,000. Oxbow Advisors LLC increased its holdings in shares of Enterprise Products Partners by 3.0% during the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after purchasing an additional 39,052 shares during the period. Texas Yale Capital Corp. raised its position in shares of Enterprise Products Partners by 4.9% in the fourth quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock valued at $61,104,000 after buying an additional 88,475 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Enterprise Products Partners by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock valued at $144,592,000 after buying an additional 327,807 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday. UBS Group reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Enterprise Products Partners in a report 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. TD Cowen reissued a “hold” rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. raised their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.93.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $38.84 on Friday. The firm’s 50 day simple moving average is $37.58 and its 200 day simple moving average is $37.34. The firm has a market capitalization of $83.88 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 1.39 and a beta of 0.49. The company has a current ratio of 0.93, a quick ratio of 0.61 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same period in the previous year, the business earned $0.66 earnings per share. The company’s revenue was up 60.8% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.56 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was 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 presently 77.78%.

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.