Clear Creek Financial Management LLC Buys Shares of 11,317 Enterprise Products Partners L.P. (NYSE:EPD)

Posted by Defense World Staff on Apr 2nd, 2023

Clear Creek Financial Management LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,317 shares of the oil and gas producer’s stock, valued at approximately $273,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Chiron Capital Management LLC raised its stake in Enterprise Products Partners by 1.7% during the 4th quarter. Chiron Capital Management LLC now owns 81,845 shares of the oil and gas producer’s stock valued at $1,974,000 after acquiring an additional 1,404 shares in the last quarter. Astoria Portfolio Advisors LLC. increased its position in shares of Enterprise Products Partners by 22.5% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 13,135 shares of the oil and gas producer’s stock valued at $338,000 after purchasing an additional 2,409 shares during the period. Pennsylvania Capital Management Inc. ADV increased its position in shares of Enterprise Products Partners by 1.5% during the 4th quarter. Pennsylvania Capital Management Inc. ADV now owns 53,069 shares of the oil and gas producer’s stock valued at $1,355,000 after purchasing an additional 805 shares during the period. DAVENPORT & Co LLC increased its position in shares of Enterprise Products Partners by 1.8% during the 4th quarter. DAVENPORT & Co LLC now owns 312,889 shares of the oil and gas producer’s stock valued at $7,556,000 after purchasing an additional 5,408 shares during the period. Finally, Quantum Private Wealth LLC increased its position in shares of Enterprise Products Partners by 4.7% during the 4th quarter. Quantum Private Wealth LLC now owns 41,721 shares of the oil and gas producer’s stock valued at $1,006,000 after purchasing an additional 1,861 shares during the period. Institutional investors own 26.54% of the company’s stock.

Analysts Set New Price Targets

EPD has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, March 9th. Wolfe Research upgraded Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research report on Monday, January 9th. Scotiabank started coverage on Enterprise Products Partners in a report on Thursday, March 2nd. They issued a “sector outperform” rating and a $31.00 target price on the stock. StockNews.com started coverage on Enterprise Products Partners in a report on Thursday, March 16th. They issued a “buy” rating on the stock. Finally, TD Securities lifted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, February 2nd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.83.

Insider Activity at Enterprise Products Partners

In other news, CEO Aj Teague acquired 11,950 shares of Enterprise Products Partners stock in a transaction that occurred on Monday, March 20th. The stock was purchased at an average price of $25.15 per share, with a total value of $300,542.50. Following the completion of the transaction, the chief executive officer now owns 2,491,895 shares in the company, valued at $62,671,159.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $25.90 on Friday. The stock has a market cap of $56.22 billion, a PE ratio of 10.36 and a beta of 1.10. The business has a fifty day simple moving average of $25.82 and a 200-day simple moving average of $25.11. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.96. Enterprise Products Partners L.P. has a 12 month low of $22.90 and a 12 month high of $28.65.

Enterprise Products Partners (NYSE:EPD – Get Rating) last issued its earnings results on Wednesday, February 1st. The oil and gas producer reported $0.65 EPS for the quarter, topping the consensus estimate of $0.60 by $0.05. The business had revenue of $13.65 billion during the quarter, compared to analysts’ expectations of $14.74 billion. Enterprise Products Partners had a return on equity of 20.38% and a net margin of 9.43%. Enterprise Products Partners’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.5 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Tuesday, January 31st were given a dividend of $0.49 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Monday, January 30th. This represents a $1.96 dividend on an annualized basis and a yield of 7.57%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.40%.

Enterprise Products Partners Profile

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Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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