Northern Right Capital Management L.P. Makes New $3.29 Million Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Northern Right Capital Management L.P. purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 105,000 shares of the oil and gas producer's stock, valued at approximately $3,293,000. Enterprise Products Partners comprises about 1.2% of Northern Right Capital Management L.P.'s portfolio, making the stock its 19th biggest holding.

A number of other institutional investors also recently made changes to their positions in the stock. Barclays PLC increased its stake in Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock valued at $73,699,000 after purchasing an additional 1,326,010 shares during the last quarter. Eaton Financial Holdings Company LLC acquired a new position in Enterprise Products Partners in the third quarter valued at $1,066,000. Stock Yards Bank & Trust Co. increased its stake in Enterprise Products Partners by 6.1% in the third quarter. Stock Yards Bank & Trust Co. now owns 60,844 shares of the oil and gas producer's stock valued at $1,771,000 after purchasing an additional 3,500 shares during the last quarter. World Investment Advisors LLC increased its stake in Enterprise Products Partners by 47.7% in the third quarter. World Investment Advisors LLC now owns 39,750 shares of the oil and gas producer's stock valued at $1,157,000 after purchasing an additional 12,839 shares during the last quarter. Finally, Arvest Bank Trust Division acquired a new position in Enterprise Products Partners in the third quarter valued at $445,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on EPD shares. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Barclays raised their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Friday, March 14th. Citigroup restated a "buy" rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Scotiabank raised their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a report on Thursday, March 6th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $36.89.

Enterprise Products Partners Stock Up 0.5 %

Shares of NYSE:EPD traded up $0.17 during midday trading on Monday, reaching $31.39. The company had a trading volume of 4,944,070 shares, compared to its average volume of 4,366,832. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock's fifty day moving average price is $32.36 and its 200-day moving average price is $31.96. The stock has a market capitalization of $67.98 billion, a P/E ratio of 11.67, a PEG ratio of 1.37 and a beta of 0.78. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business's revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date is Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio is presently 79.55%.

Enterprise Products Partners 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.