Millennium Capital Advisors LLC Takes $602,000 Position in Enterprise Products Partners L.P. $EPD

Millennium Capital Advisors LLC bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,787 shares of the oil and gas producer’s stock, valued at approximately $602,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EPD. Arete Wealth Advisors LLC lifted its stake in shares of Enterprise Products Partners by 1.5% in the 3rd quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock valued at $661,000 after purchasing an additional 317 shares during the period. ORG Wealth Partners LLC increased its holdings in Enterprise Products Partners by 0.5% in the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock worth $2,125,000 after acquiring an additional 317 shares in the last quarter. Walker Asset Management LLC increased its holdings in Enterprise Products Partners by 1.7% in the 4th quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer’s stock worth $631,000 after acquiring an additional 326 shares in the last quarter. Montag A & Associates Inc. increased its holdings in Enterprise Products Partners by 5.9% in the 4th quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock worth $189,000 after acquiring an additional 330 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. increased its holdings in Enterprise Products Partners by 2.9% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 11,978 shares of the oil and gas producer’s stock worth $375,000 after acquiring an additional 334 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $39.24 on Friday. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $39.74. The firm has a market capitalization of $84.82 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.47 and a beta of 0.52. The company has a fifty day simple moving average of $37.82 and a 200-day simple moving average of $34.72. The company has a quick ratio of 0.74, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. During the same period in the previous year, the company earned $0.64 EPS. Enterprise Products Partners’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.92 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.6%. Enterprise Products Partners’s dividend payout ratio is presently 81.48%.

Insider Activity

In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the acquisition, the chief executive officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 32.60% of the stock is owned by insiders.

Analyst Ratings Changes

EPD has been the subject of several recent analyst reports. Scotiabank reissued a “sector perform” rating and issued a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Truist Financial boosted their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 4th. The Goldman Sachs Group reissued a “neutral” rating and issued a $39.00 price target on shares of Enterprise Products Partners in a report on Thursday. Finally, Wells Fargo & Company raised shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $40.00 to $42.00 in a report on Wednesday, March 25th. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $39.60.

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.