Goldman Sachs Group Inc. Acquires 1,940,583 Shares of Enterprise Products Partners L.P. $EPD

Goldman Sachs Group Inc. raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 12.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,163,343 shares of the oil and gas producer’s stock after purchasing an additional 1,940,583 shares during the period. Goldman Sachs Group Inc.’s holdings in Enterprise Products Partners were worth $582,317,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PMV Capital Advisers LLC bought a new position in Enterprise Products Partners during the 4th quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the 3rd quarter valued at approximately $31,000. Texas Capital Bancshares Inc TX bought a new position in Enterprise Products Partners during the 3rd quarter valued at approximately $32,000. Abich Financial Wealth Management LLC bought a new position in Enterprise Products Partners during the 3rd quarter valued at approximately $32,000. Finally, Daytona Street Capital LLC bought a new position in Enterprise Products Partners during the 4th quarter valued at approximately $42,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.9%

Shares of NYSE:EPD opened at $38.04 on Thursday. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17. The firm has a market capitalization of $82.22 billion, a P/E ratio of 14.09, a P/E/G ratio of 1.34 and a beta of 0.49. The stock has a 50 day moving average price of $38.14 and a 200-day moving average price of $35.42. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPDGet Free Report) last posted its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 EPS. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a $0.55 dividend. The ex-dividend date was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 5.8%. Enterprise Products Partners’s dividend payout ratio is presently 81.48%.

Analyst Ratings Changes

A number of research analysts have commented on EPD shares. Jefferies Financial Group upped their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Tuesday, March 31st. Citigroup reaffirmed a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. TD Cowen reaffirmed a “hold” rating and set a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Wells Fargo & Company raised Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, March 25th. Finally, JPMorgan Chase & Co. increased their target price on Enterprise Products Partners from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $39.67.

Get Our Latest Stock Report on EPD

Key Headlines Impacting Enterprise Products Partners

Here are the key news stories impacting Enterprise Products Partners this week:

Insider Buying and Selling at Enterprise Products Partners

In related news, CEO Aj Teague purchased 2,665 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the purchase, the chief executive officer directly owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. This represents a 3.56% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 32.60% of the stock is owned by insiders.

About Enterprise Products Partners

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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