Royal Palms Capital LLC Purchases Shares of 57,090 Enterprise Products Partners L.P. $EPD

Royal Palms Capital LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, Holdings Channel reports. The fund purchased 57,090 shares of the oil and gas producer’s stock, valued at approximately $1,830,000. Enterprise Products Partners accounts for about 2.2% of Royal Palms Capital LLC’s holdings, making the stock its 23rd largest holding.

Other hedge funds have also added to or reduced their stakes in the company. PMV Capital Advisers LLC acquired a new stake in Enterprise Products Partners during the 4th quarter valued at $25,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners during the 3rd quarter valued at $31,000. Abich Financial Wealth Management LLC acquired a new stake in Enterprise Products Partners during the 3rd quarter valued at $32,000. Texas Capital Bancshares Inc TX acquired a new stake in Enterprise Products Partners during the 3rd quarter valued at $32,000. Finally, Daytona Street Capital LLC acquired a new stake in Enterprise Products Partners during the 4th quarter valued at $42,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on EPD shares. Royal Bank Of Canada raised their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Barclays raised their price target on Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. Truist Financial lifted their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Stifel Nicolaus lifted their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Citigroup reissued a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Enterprise Products Partners presently has a consensus rating of “Hold” and an average price target of $39.67.

Insider Buying and Selling

In related news, CEO Aj Teague purchased 2,665 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the purchase, the chief executive officer directly owned 77,576 shares in the company, valued at $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 32.60% of the stock is currently owned by company insiders.

Enterprise Products Partners Stock Down 3.2%

EPD opened at $38.36 on Wednesday. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. 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 company has a market capitalization of $82.93 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.47 and a beta of 0.52. The stock has a fifty day moving average of $38.14 and a 200-day moving average of $35.16.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm 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 business posted $0.64 EPS. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.95 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s payout ratio is 81.48%.

Enterprise Products Partners 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.