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

Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 40,082 shares of the oil and gas producer’s stock, valued at approximately $1,473,000.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after acquiring an additional 5,425 shares during the period. Schnieders Capital Management LLC. grew its stake in Enterprise Products Partners by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after acquiring an additional 5,000 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Enterprise Products Partners by 6.2% in the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock valued at $1,975,000 after purchasing an additional 3,742 shares during the period. Guggenheim Capital LLC increased its holdings in shares of Enterprise Products Partners by 6.1% in the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock valued at $847,000 after purchasing an additional 1,578 shares during the period. Finally, Glenview Trust co lifted its position in shares of Enterprise Products Partners by 315.8% in the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock worth $1,043,000 after purchasing an additional 25,555 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EPD has been the subject of several research reports. Wall Street Zen upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday. UBS Group reiterated a “buy” rating and issued a $45.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Morgan Stanley set a $40.00 target price on shares of Enterprise Products Partners and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Finally, Truist Financial boosted their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.93.

Enterprise Products Partners Stock Down 0.7%

Shares of Enterprise Products Partners stock opened at $38.61 on Tuesday. The firm has a market cap of $83.38 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 1.30 and a beta of 0.49. The stock has a 50-day simple moving average of $37.60 and a 200-day simple moving average of $37.41. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The firm’s revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 earnings per share. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.56 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s payout ratio is presently 77.78%.

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.