Texas Capital Bank Wealth Management Services Inc Has $1.29 Million Position in Enterprise Products Partners L.P. $EPD

Texas Capital Bank Wealth Management Services Inc boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 407.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 40,226 shares of the oil and gas producer’s stock after acquiring an additional 32,300 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Enterprise Products Partners were worth $1,290,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of EPD. PMV Capital Advisers LLC acquired a new stake in Enterprise Products Partners in the 4th quarter valued at $25,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners in the 3rd quarter valued at $31,000. Abich Financial Wealth Management LLC acquired a new stake in Enterprise Products Partners in the 3rd quarter valued at $32,000. Texas Capital Bancshares Inc TX acquired a new stake in Enterprise Products Partners in the 3rd quarter valued at $32,000. Finally, Daytona Street Capital LLC acquired a new stake in Enterprise Products Partners in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $38.03 on Thursday. The company’s 50-day moving average is $38.15 and its 200 day moving average is $35.21. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The company has a market capitalization of $82.21 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 1.43 and a beta of 0.52. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The company had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.Enterprise Products Partners’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.95 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s payout ratio is 81.48%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Wednesday, March 4th. Wall Street Zen downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Stifel Nicolaus lifted their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $43.00 price objective (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Enterprise Products Partners has a consensus rating of “Hold” and an average price target of $39.67.

Insider Buying and Selling at Enterprise Products Partners

In related news, CEO Aj Teague purchased 2,665 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average cost of $37.55 per share, with a total value of $100,070.75. Following the acquisition, the chief executive officer owned 77,576 shares of the company’s stock, valued at $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 32.60% of the company’s stock.

Enterprise Products Partners 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.