Berkley W R Corp Acquires New Shares in Enterprise Products Partners L.P. $EPD

Berkley W R Corp bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,825,000 shares of the oil and gas producer’s stock, valued at approximately $250,887,000. Enterprise Products Partners accounts for about 12.0% of Berkley W R Corp’s holdings, making the stock its biggest position. Berkley W R Corp owned 0.32% of Enterprise Products Partners as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Western Wealth Management LLC increased its stake in shares of Enterprise Products Partners by 7.4% in the 2nd quarter. Western Wealth Management LLC now owns 10,442 shares of the oil and gas producer’s stock valued at $384,000 after acquiring an additional 719 shares during the last quarter. First Bancorp Inc ME grew its holdings in Enterprise Products Partners by 51.3% during the second quarter. First Bancorp Inc ME now owns 10,146 shares of the oil and gas producer’s stock valued at $373,000 after purchasing an additional 3,440 shares during the period. Valtrion Capital Management LLC grew its holdings in Enterprise Products Partners by 11.2% during the second quarter. Valtrion Capital Management LLC now owns 7,016 shares of the oil and gas producer’s stock valued at $258,000 after purchasing an additional 706 shares during the period. Hsbc Holdings PLC increased its stake in Enterprise Products Partners by 13.6% in the second quarter. Hsbc Holdings PLC now owns 226,543 shares of the oil and gas producer’s stock valued at $8,328,000 after purchasing an additional 27,115 shares in the last quarter. Finally, Arkos Global Advisors increased its stake in Enterprise Products Partners by 8.0% in the second quarter. Arkos Global Advisors now owns 12,310 shares of the oil and gas producer’s stock valued at $453,000 after purchasing an additional 908 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD opened at $39.09 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The company has a market capitalization of $84.41 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 1.26 and a beta of 0.49. The business’s 50-day moving average price is $37.79 and its two-hundred day moving average price is $37.62. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same quarter last year, the firm earned $0.66 EPS. Enterprise Products Partners’s revenue for the quarter was up 60.8% compared to the same quarter last year. Equities analysts expect that Enterprise Products Partners L.P. will post 3.03 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 5.7%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s payout ratio is currently 77.78%.

Wall Street Analyst Weigh In

EPD has been the topic of a number of recent analyst reports. 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. Stifel Nicolaus raised their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. raised their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Enterprise Products Partners Company Profile

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.