Morton Capital Management LLC CA Has $948,000 Holdings in Enterprise Products Partners L.P. $EPD

Morton Capital Management LLC CA grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 33.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 30,575 shares of the oil and gas producer’s stock after buying an additional 7,679 shares during the quarter. Morton Capital Management LLC CA’s holdings in Enterprise Products Partners were worth $948,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EPD. ING Groep NV acquired a new position in shares of Enterprise Products Partners in the first quarter valued at approximately $71,052,000. Alps Advisors Inc. boosted its holdings in shares of Enterprise Products Partners by 5.0% in the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock valued at $1,410,891,000 after buying an additional 1,967,188 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Enterprise Products Partners by 65.3% in the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock valued at $148,415,000 after buying an additional 1,717,768 shares during the period. Northside Capital Management LLC acquired a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $47,628,000. Finally, Truist Financial Corp boosted its holdings in shares of Enterprise Products Partners by 293.6% in the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock valued at $68,927,000 after buying an additional 1,506,055 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $31.72 on Wednesday. The stock has a market cap of $68.69 billion, a P/E ratio of 11.79, a P/E/G ratio of 2.24 and a beta of 0.64. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The company has a fifty day moving average price of $31.57 and a two-hundred day moving average price of $31.44. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The firm had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business’s revenue was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $0.545 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.04%.

Analysts Set New Price Targets

EPD has been the subject of several recent research reports. Scotiabank reduced their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, September 19th. Stifel Nicolaus reduced their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, July 29th. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Morgan Stanley reduced their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. Finally, Barclays reduced their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $35.75.

Insiders Place Their Bets

In other news, Director John R. Rutherford purchased 15,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was purchased at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the purchase, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. The trade was a 10.45% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William C. Montgomery purchased 16,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The stock was purchased at an average price of $31.55 per share, with a total value of $504,800.00. Following the purchase, the director owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company’s stock.

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.