Cape Investment Advisory Inc. Sells 854 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Cape Investment Advisory Inc. lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 48.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 901 shares of the oil and gas producer’s stock after selling 854 shares during the period. Cape Investment Advisory Inc.’s holdings in Enterprise Products Partners were worth $26,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Blackstone Inc. grew its holdings in Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after purchasing an additional 1,391,370 shares during the period. Energy Income Partners LLC grew its holdings in shares of Enterprise Products Partners by 0.9% during the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock valued at $455,761,000 after buying an additional 142,689 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in shares of Enterprise Products Partners by 2.6% during the first quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock valued at $326,091,000 after buying an additional 284,772 shares during the last quarter. Berkley W R Corp grew its holdings in shares of Enterprise Products Partners by 24.5% during the first quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after buying an additional 1,000,000 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its holdings in shares of Enterprise Products Partners by 5.8% during the first quarter. Westwood Holdings Group Inc. now owns 4,956,244 shares of the oil and gas producer’s stock valued at $144,623,000 after buying an additional 269,800 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on EPD shares. Morgan Stanley cut their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. JPMorgan Chase & Co. dropped their price target on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Truist Financial raised their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $33.08.

Enterprise Products Partners Price Performance

Shares of NYSE EPD traded down $0.08 during mid-day trading on Friday, reaching $28.48. 7,584,700 shares of the company were exchanged, compared to its average volume of 4,698,681. The stock has a market capitalization of $61.85 billion, a PE ratio of 11.17, a PEG ratio of 1.33 and a beta of 1.04. The company’s 50 day moving average price is $28.92 and its 200 day moving average price is $28.39. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 EPS. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be given a $0.525 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.37%. Enterprise Products Partners’s payout ratio is presently 82.35%.

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.