PMG Family Office LLC Invests $483,000 in Enterprise Products Partners L.P. $EPD

PMG Family Office LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 3rd quarter, Holdings Channel reports. The fund acquired 15,458 shares of the oil and gas producer’s stock, valued at approximately $483,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Winnow Wealth LLC acquired a new stake in Enterprise Products Partners in the second quarter worth approximately $28,000. Traub Capital Management LLC acquired a new position in shares of Enterprise Products Partners during the 2nd quarter valued at $31,000. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners in the 3rd quarter worth $31,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners in the third quarter valued at $32,000. Finally, Texas Capital Bancshares Inc TX acquired a new stake in shares of Enterprise Products Partners in the third quarter valued at $32,000. Institutional investors own 26.07% of the company’s stock.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director John R. Rutherford purchased 15,000 shares of the business’s stock in a transaction dated Monday, December 29th. The shares were acquired at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the acquisition, the director directly owned 173,586 shares of the company’s stock, valued at $5,570,374.74. The trade was a 9.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 32.60% of the stock is currently owned by company insiders.

Enterprise Products Partners Trading Down 1.2%

Shares of NYSE EPD opened at $37.07 on Thursday. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $38.22. The company has a market cap of $80.14 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.50 and a beta of 0.59. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. The business has a fifty day simple moving average of $35.11 and a 200-day simple moving average of $32.87.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The firm had revenue of $13.79 billion for the quarter, compared to analysts’ expectations of $12.44 billion. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 5.9%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, January 30th. Enterprise Products Partners’s payout ratio is 82.71%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Enterprise Products Partners from $34.00 to $38.00 and gave the stock an “underweight” rating in a report on Wednesday. Jefferies Financial Group reissued a “hold” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a report on Wednesday, February 4th. Royal Bank Of Canada restated an “outperform” rating and set a $40.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Barclays lifted their price objective on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Finally, Citigroup reissued a “buy” rating and set a $39.00 target price (up from $36.00) on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $37.14.

Enterprise Products Partners Company 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.