Bridges Investment Management Inc. lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 28.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,028 shares of the oil and gas producer’s stock after purchasing an additional 13,713 shares during the period. Bridges Investment Management Inc.’s holdings in Enterprise Products Partners were worth $1,747,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of EPD. Voya Financial Advisors Inc. increased its position in Enterprise Products Partners by 11.3% in the third quarter. Voya Financial Advisors Inc. now owns 135,946 shares of the oil and gas producer’s stock worth $3,893,000 after buying an additional 13,822 shares during the period. Chevy Chase Trust Holdings Inc. raised its position in shares of Enterprise Products Partners by 33.3% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 25,599 shares of the oil and gas producer’s stock worth $732,000 after buying an additional 6,400 shares in the last quarter. RDA Financial Network raised its position in shares of Enterprise Products Partners by 26.9% during the 3rd quarter. RDA Financial Network now owns 11,800 shares of the oil and gas producer’s stock worth $297,000 after buying an additional 2,503 shares in the last quarter. J.P. Marvel Investment Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter worth approximately $486,000. Finally, Virtu Financial LLC lifted its stake in shares of Enterprise Products Partners by 96.3% in the 3rd quarter. Virtu Financial LLC now owns 64,058 shares of the oil and gas producer’s stock worth $1,831,000 after acquiring an additional 31,419 shares during the period. Hedge funds and other institutional investors own 36.55% of the company’s stock.
In other news, CEO Aj Teague acquired 19,700 shares of Enterprise Products Partners stock in a transaction on Monday, February 3rd. The stock was bought at an average cost of $25.40 per share, with a total value of $500,380.00. Following the completion of the purchase, the chief executive officer now owns 1,765,713 shares of the company’s stock, valued at $44,849,110.20. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard H. Bachmann bought 15,000 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was purchased at an average price of $12.27 per share, with a total value of $184,050.00. Following the completion of the acquisition, the director now owns 1,631,048 shares of the company’s stock, valued at $20,012,958.96. The disclosure for this purchase can be found here. Insiders acquired 1,113,700 shares of company stock worth $26,612,360 in the last ninety days. 37.50% of the stock is owned by corporate insiders.
Shares of NYSE:EPD opened at $14.11 on Thursday. Enterprise Products Partners L.P. has a 12 month low of $10.27 and a 12 month high of $30.86. The stock has a market cap of $30.43 billion, a price-to-earnings ratio of 6.78 and a beta of 0.95. The stock’s 50 day moving average price is $21.76 and its 200 day moving average price is $26.12. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.86 and a quick ratio of 0.63.
Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.04). Enterprise Products Partners had a return on equity of 18.88% and a net margin of 14.00%. The firm had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the previous year, the firm earned $0.59 EPS. Enterprise Products Partners’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.14 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 12th. Shareholders of record on Thursday, April 30th will be given a $0.445 dividend. The ex-dividend date is Wednesday, April 29th. This represents a $1.78 annualized dividend and a yield of 12.62%. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.79%.
EPD has been the topic of a number of research analyst reports. Raymond James lowered their price objective on shares of Enterprise Products Partners from $36.00 to $27.00 and set a “strong-buy” rating on the stock in a research note on Thursday, March 12th. Stifel Nicolaus dropped their target price on Enterprise Products Partners from $35.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. Piper Sandler cut Enterprise Products Partners from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $32.00 to $24.00 in a report on Monday, March 9th. Morgan Stanley dropped their target price on Enterprise Products Partners from $32.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. Finally, ValuEngine raised Enterprise Products Partners from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $30.20.
About Enterprise Products Partners
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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