Corps Capital Advisors LLC Purchases Shares of 82,642 Enterprise Products Partners L.P. (NYSE:EPD)

Corps Capital Advisors LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 82,642 shares of the oil and gas producer’s stock, valued at approximately $2,592,000. Enterprise Products Partners makes up about 2.6% of Corps Capital Advisors LLC’s portfolio, making the stock its 7th biggest holding.

Other hedge funds have also made changes to their positions in the company. Rosenberg Matthew Hamilton boosted its holdings in Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares in the last quarter. Assetmark Inc. raised its holdings in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth approximately $36,000. Bangor Savings Bank boosted its holdings in shares of Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 1,072 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Enterprise Products Partners in the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EPD. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Scotiabank began coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial boosted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Citigroup increased their price objective on Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $33.62 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a market cap of $72.86 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09. The firm’s fifty day moving average price is $32.58 and its 200 day moving average price is $30.88. Enterprise Products Partners L.P. has a 1-year low of $27.20 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.87 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.37%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.