TD Asset Management Inc. lowered its position in Enterprise Products Partners L.P. (NYSE:EPD) by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,652 shares of the oil and gas producer’s stock after selling 1,400 shares during the quarter. TD Asset Management Inc.’s holdings in Enterprise Products Partners were worth $360,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its position in Enterprise Products Partners by 0.6% in the second quarter. FMR LLC now owns 11,523,060 shares of the oil and gas producer’s stock valued at $318,843,000 after acquiring an additional 74,391 shares in the last quarter. Bank of New York Mellon Corp grew its position in Enterprise Products Partners by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 556,318 shares of the oil and gas producer’s stock valued at $15,393,000 after acquiring an additional 7,748 shares in the last quarter. Russell Investments Group Ltd. grew its position in Enterprise Products Partners by 8.9% in the third quarter. Russell Investments Group Ltd. now owns 763,916 shares of the oil and gas producer’s stock valued at $21,951,000 after acquiring an additional 62,719 shares in the last quarter. Sawtooth Solutions LLC acquired a new stake in Enterprise Products Partners in the third quarter valued at approximately $453,000. Finally, Cowen Prime Services LLC grew its position in Enterprise Products Partners by 41.0% in the third quarter. Cowen Prime Services LLC now owns 66,080 shares of the oil and gas producer’s stock valued at $1,898,000 after acquiring an additional 19,200 shares in the last quarter. 36.84% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Aj Teague acquired 10,000 shares of Enterprise Products Partners stock in a transaction that occurred on Monday, December 31st. The shares were purchased at an average cost of $24.36 per share, for a total transaction of $243,600.00. Following the completion of the purchase, the chief executive officer now directly owns 1,654,372 shares of the company’s stock, valued at approximately $40,300,501.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 30,000 shares of company stock worth $733,300 over the last 90 days. 37.50% of the stock is currently owned by company insiders.
Several research firms have recently commented on EPD. Zacks Investment Research cut Enterprise Products Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Evercore ISI began coverage on Enterprise Products Partners in a research note on Tuesday, February 5th. They set an “outperform” rating for the company. Bank of America set a $32.00 target price on Enterprise Products Partners and gave the company a “buy” rating in a research note on Tuesday, January 29th. ValuEngine upgraded Enterprise Products Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Citigroup reduced their target price on Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, November 29th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $32.50.
Enterprise Products Partners stock opened at $27.92 on Wednesday. Enterprise Products Partners L.P. has a 52 week low of $23.10 and a 52 week high of $30.05. The company has a market cap of $61.22 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 4.85 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.70 and a quick ratio of 0.49.
Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Thursday, January 31st. The oil and gas producer reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.09. Enterprise Products Partners had a return on equity of 18.34% and a net margin of 11.42%. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $9.46 billion. During the same period last year, the business posted $0.36 earnings per share. As a group, analysts forecast that Enterprise Products Partners L.P. will post 1.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 8th. Investors of record on Thursday, January 31st were paid a dividend of $0.435 per share. The ex-dividend date was Wednesday, January 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.43. This represents a $1.74 annualized dividend and a yield of 6.23%. Enterprise Products Partners’s dividend payout ratio (DPR) is 89.69%.
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Enterprise Products Partners Company 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. 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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