Kamunting Street Capital Management L.P. Has $21.91 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Kamunting Street Capital Management L.P. lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 10.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 755,891 shares of the oil and gas producer’s stock after purchasing an additional 70,518 shares during the quarter. Enterprise Products Partners accounts for approximately 20.3% of Kamunting Street Capital Management L.P.’s holdings, making the stock its biggest holding. Kamunting Street Capital Management L.P.’s holdings in Enterprise Products Partners were worth $21,906,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in EPD. JRM Investment Counsel LLC boosted its stake in Enterprise Products Partners by 2.1% in the fourth quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after purchasing an additional 10,404 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of Enterprise Products Partners by 37.5% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 881,700 shares of the oil and gas producer’s stock valued at $23,233,000 after buying an additional 240,300 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Enterprise Products Partners by 19.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after buying an additional 3,770 shares in the last quarter. Platform Technology Partners grew its holdings in Enterprise Products Partners by 14.4% during the 4th quarter. Platform Technology Partners now owns 27,245 shares of the oil and gas producer’s stock worth $722,000 after acquiring an additional 3,426 shares during the last quarter. Finally, Nwam LLC increased its position in Enterprise Products Partners by 25.1% in the 1st quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock valued at $591,000 after acquiring an additional 4,184 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD opened at $29.45 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The stock has a market cap of $63.95 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The stock’s 50-day moving average price is $29.22 and its two-hundred day moving average price is $28.91. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 EPS. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.13%. The ex-dividend date was Wednesday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Morgan Stanley reduced their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.08.

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.