GSA Capital Partners LLP Takes Position in Enterprise Products Partners L.P. $EPD

GSA Capital Partners LLP bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 48,539 shares of the oil and gas producer’s stock, valued at approximately $1,784,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners in the third quarter valued at $31,000. Bravera Wealth increased its position in shares of Enterprise Products Partners by 666.7% during the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after purchasing an additional 900 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Enterprise Products Partners during the second quarter worth about $48,000. State of Wyoming purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $54,000. Finally, Tucker Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the 4th quarter valued at about $55,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $38.84 on Monday. The stock’s 50-day moving average price is $37.58 and its 200 day moving average price is $37.37. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $83.88 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17.

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

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a dividend of $0.56 per share. This is a boost 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 was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is 77.78%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EPD shares. Morgan Stanley set a $40.00 price target on Enterprise Products Partners and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Citigroup reiterated a “buy” rating and issued a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.93.

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.