CMC Financial Group Buys New Position in Enterprise Products Partners L.P. $EPD

CMC Financial Group purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,000 shares of the oil and gas producer’s stock, valued at approximately $492,000. Enterprise Products Partners accounts for approximately 1.0% of CMC Financial Group’s investment portfolio, making the stock its 26th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners in the third quarter valued at $31,000. Daytona Street Capital LLC bought a new position in Enterprise Products Partners during the 4th quarter valued at $42,000. Groesbeck Investment Management Corp NJ purchased a new position in Enterprise Products Partners during the 4th quarter worth $45,000. Kestra Investment Management LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth $48,000. Finally, State of Wyoming bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth $54,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $38.59 on Wednesday. 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 $83.42 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 1.39 and a beta of 0.49. 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 50-day simple moving average of $37.68 and a 200 day simple moving average of $36.63.

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 for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm’s revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 earnings per share. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.97 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.56 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.96%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EPD shares. UBS Group reissued a “buy” rating and set a $45.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Scotiabank reissued a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Jefferies Financial Group increased their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Tuesday, March 31st. Finally, Weiss Ratings lowered Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.93.

About Enterprise Products Partners

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.