Longfellow Investment Management Co. LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 4.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,587,296 shares of the oil and gas producer’s stock after purchasing an additional 62,982 shares during the quarter. Enterprise Products Partners makes up approximately 11.5% of Longfellow Investment Management Co. LLC’s holdings, making the stock its biggest position. Longfellow Investment Management Co. LLC’s holdings in Enterprise Products Partners were worth $50,889,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Arete Wealth Advisors LLC boosted its position in shares of Enterprise Products Partners by 1.5% during the 3rd quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock valued at $661,000 after acquiring an additional 317 shares during the last quarter. ORG Wealth Partners LLC boosted its position in shares of Enterprise Products Partners by 0.5% during the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock valued at $2,125,000 after acquiring an additional 317 shares during the last quarter. Walker Asset Management LLC boosted its position in shares of Enterprise Products Partners by 1.7% during the 4th quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer’s stock valued at $631,000 after acquiring an additional 326 shares during the last quarter. Mission Wealth Management LP boosted its position in shares of Enterprise Products Partners by 1.0% during the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock valued at $1,037,000 after acquiring an additional 328 shares during the last quarter. Finally, Montag A & Associates Inc. boosted its position in shares of Enterprise Products Partners by 5.9% during the 4th quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock valued at $189,000 after acquiring an additional 330 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Stifel Nicolaus increased their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Weiss Ratings downgraded Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, May 21st. Morgan Stanley reiterated an “underweight” rating and set a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Finally, UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $39.67.
Enterprise Products Partners Stock Performance
NYSE:EPD opened at $37.80 on Friday. The stock’s fifty day moving average is $38.11 and its 200 day moving average is $35.48. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The firm has a market capitalization of $81.72 billion, a PE ratio of 14.00, a PEG ratio of 1.35 and a beta of 0.49. 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:EPD – Get Free Report) last released 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). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The business’s quarterly revenue was down 6.7% on a year-over-year basis. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.
Enterprise Products Partners Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders 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 dividend on an annualized basis and a yield of 5.8%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.48%.
Insiders Place Their Bets
In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of Enterprise Products Partners stock in a transaction on Friday, March 20th. The shares were acquired at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the purchase, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 32.60% of the stock is currently owned by insiders.
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.
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