CMC Financial Group Acquires Shares of 13,000 Enterprise Products Partners L.P. $EPD

CMC Financial Group bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the first quarter, Holdings Channel.com reports. The firm bought 13,000 shares of the oil and gas producer’s stock, valued at approximately $492,000. Enterprise Products Partners accounts for 1.0% of CMC Financial Group’s holdings, making the stock its 26th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of EPD. Palisade Asset Management LLC bought a new position in Enterprise Products Partners in the 3rd quarter worth approximately $31,000. Daytona Street Capital LLC bought a new stake in Enterprise Products Partners during the 4th quarter valued at $42,000. Groesbeck Investment Management Corp NJ purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth $45,000. Kestra Investment Management LLC bought a new position in shares of Enterprise Products Partners in the second quarter worth $48,000. Finally, Tucker Asset Management LLC purchased a new position in shares of Enterprise Products Partners in the fourth quarter valued at $55,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $38.59 on Wednesday. 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 fifty day moving average of $37.68 and a 200 day moving average of $36.63. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The firm has a market capitalization of $83.42 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 1.39 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results 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 business had revenue of $14.39 billion during 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.97 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a $0.56 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Friday, July 31st. Enterprise Products Partners’s payout ratio is 82.96%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $40.00 to $42.00 in a research report on Wednesday, March 25th. Truist Financial increased their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 4th. TD Cowen restated a “hold” rating and issued a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Finally, Weiss Ratings cut shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. Eight 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $39.93.

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.