RMB Capital Management LLC Buys 593 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

RMB Capital Management LLC raised its stake in Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,976 shares of the oil and gas producer’s stock after buying an additional 593 shares during the period. RMB Capital Management LLC’s holdings in Enterprise Products Partners were worth $1,625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Beach Investment Counsel Inc. PA bought a new position in Enterprise Products Partners in the first quarter valued at $60,331,000. Fractal Investments LLC bought a new stake in Enterprise Products Partners in the 4th quarter worth approximately $35,647,000. Thrivent Financial for Lutherans boosted its stake in Enterprise Products Partners by 46.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,214,611 shares of the oil and gas producer’s stock worth $70,909,000 after buying an additional 1,019,294 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Enterprise Products Partners by 11.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,402,476 shares of the oil and gas producer’s stock valued at $140,598,000 after acquiring an additional 658,945 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC bought a new stake in shares of Enterprise Products Partners in the 1st quarter worth approximately $13,138,000. Hedge funds and other institutional investors own 27.29% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $25.70 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.84 and a debt-to-equity ratio of 1.01. Enterprise Products Partners L.P. has a twelve month low of $20.42 and a twelve month high of $28.65. The stock has a market cap of $56.04 billion, a P/E ratio of 11.58 and a beta of 1.16. The firm’s fifty day simple moving average is $25.65 and its 200 day simple moving average is $25.43.

Enterprise Products Partners (NYSE:EPDGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. Enterprise Products Partners had a net margin of 9.54% and a return on equity of 19.08%. The company had revenue of $16.06 billion for the quarter, compared to analysts’ expectations of $11.96 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. Enterprise Products Partners’s quarterly revenue was up 69.9% on a year-over-year basis. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.5 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, July 29th will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 7.39%. The ex-dividend date of this dividend is Thursday, July 28th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.47. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 85.59%.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford bought 6,500 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were purchased at an average price of $25.78 per share, for a total transaction of $167,570.00. Following the acquisition, the director now owns 113,941 shares in the company, valued at approximately $2,937,398.98. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Enterprise Products Partners news, Director John R. Rutherford purchased 6,500 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was bought at an average cost of $25.78 per share, with a total value of $167,570.00. Following the transaction, the director now directly owns 113,941 shares in the company, valued at approximately $2,937,398.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carin Marcy Barth acquired 19,050 shares of the business’s stock in a transaction on Friday, June 24th. The stock was acquired at an average price of $23.64 per share, for a total transaction of $450,342.00. Following the acquisition, the director now owns 19,050 shares of the company’s stock, valued at approximately $450,342. The disclosure for this purchase can be found here. 37.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EPD. US Capital Advisors reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, June 1st. Raymond James lifted their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “strong-buy” rating in a report on Thursday. UBS Group increased their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a report on Friday, July 8th. TD Securities lifted their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Truist Financial increased their price objective on Enterprise Products Partners from $27.00 to $30.00 in a research note on Tuesday, May 3rd. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.00.

Enterprise Products Partners Company Profile

(Get Rating)

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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