Core Capital Management & Research inc. Acquires New Shares in Enterprise Products Partners L.P. $EPD

Core Capital Management & Research inc. bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 115,512 shares of the oil and gas producer’s stock, valued at approximately $4,393,000. Enterprise Products Partners comprises 2.3% of Core Capital Management & Research inc.’s portfolio, making the stock its 18th largest position.

Several other institutional investors have also recently bought and sold shares of EPD. Royal Palms Capital LLC acquired a new position in Enterprise Products Partners during the 4th quarter worth approximately $1,830,000. Texas Yale Capital Corp. boosted its position in 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. Thrivent Financial for Lutherans boosted its position in 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. Evolve Private Wealth LLC grew its stake in shares of Enterprise Products Partners by 662.0% during the first quarter. Evolve Private Wealth LLC now owns 154,492 shares of the oil and gas producer’s stock worth $5,846,000 after buying an additional 134,218 shares during the last quarter. Finally, Mizuho Markets Americas LLC acquired a new position in shares of Enterprise Products Partners during the second quarter worth $12,866,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $39.33 on Thursday. The company has a market cap of $84.93 billion, a P/E ratio of 13.66, a PEG ratio of 1.42 and a beta of 0.50. The company has a fifty day simple moving average of $38.28 and a 200 day simple moving average of $37.84. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same period last year, the firm earned $0.66 earnings per share. Sell-side analysts predict that Enterprise Products Partners L.P. will post 3.03 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. Investors of record on Friday, July 31st were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is 77.78%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EPD shares. UBS Group reiterated a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Wall Street Zen upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday. JPMorgan Chase & Co. lifted their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. TD Cowen restated a “hold” rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.

Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.