Oxbow Advisors LLC Has $51.64 Million Stake in Enterprise Products Partners L.P. $EPD

by · The Markets Daily

Oxbow Advisors LLC grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,364,787 shares of the oil and gas producer’s stock after purchasing an additional 35,702 shares during the period. Enterprise Products Partners makes up approximately 4.4% of Oxbow Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. Oxbow Advisors LLC owned 0.06% of Enterprise Products Partners worth $51,644,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. PMV Capital Advisers LLC bought a new position in Enterprise Products Partners during the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners in the 3rd quarter worth approximately $31,000. Texas Capital Bancshares Inc TX purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth approximately $32,000. Daytona Street Capital LLC purchased a new stake in shares of Enterprise Products Partners during the 4th quarter worth approximately $42,000. Finally, Groesbeck Investment Management Corp NJ bought a new position in shares of Enterprise Products Partners during the 4th quarter valued at approximately $45,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $36.77 on Friday. The company has a market cap of $79.49 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.30 and a beta of 0.49. 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 business’s 50 day moving average price is $37.75 and its 200-day moving average price is $36.11. 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 – Get Free Report) last issued its quarterly 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 company had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. Sell-side analysts predict that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid 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 6.0%. Enterprise Products Partners’s payout ratio is currently 81.48%.

Wall Street Analyst Weigh In

EPD has been the subject of a number of recent research reports. Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Jefferies Financial Group upped their price target on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research note on Tuesday, March 31st. Citigroup reissued a “buy” rating and issued a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. UBS Group restated a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $38.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.94.

Check Out Our Latest Analysis on EPD

Enterprise Products Partners Profile

(Free Report)

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.

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