Overbrook Management Corp Buys New Position in Enterprise Products Partners L.P. (NYSE:EPD)

Overbrook Management Corp purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 39,577 shares of the oil and gas producer’s stock, valued at approximately $1,155,000.

A number of other large investors have also modified their holdings of the business. JRM Investment Counsel LLC lifted its position in Enterprise Products Partners by 2.1% during the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after acquiring an additional 10,404 shares during the period. Linscomb & Williams Inc. boosted its position in Enterprise Products Partners by 16.6% in the fourth quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock valued at $5,399,000 after buying an additional 29,112 shares during the last quarter. Cerity Partners LLC increased its holdings in Enterprise Products Partners by 89.9% in the 4th quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock worth $7,630,000 after buying an additional 137,044 shares during the period. Natixis Advisors L.P. acquired a new stake in Enterprise Products Partners during the 4th quarter valued at approximately $314,000. Finally, Sapient Capital LLC acquired a new stake in Enterprise Products Partners during the 4th quarter valued at approximately $3,271,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Truist Financial upped their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price target on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Barclays upped their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $32.77.

Enterprise Products Partners Price Performance

Shares of EPD stock traded down $0.10 on Thursday, reaching $28.92. 2,528,004 shares of the company were exchanged, compared to its average volume of 4,510,431. The company has a market cap of $62.80 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 1.35 and a beta of 1.03. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $29.99. The business has a 50-day moving average price of $28.50 and a 200 day moving average price of $27.85. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.73 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date was Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.78%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.