Burford Brothers Inc. lessened its position in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 68.5% during the fourth quarter, Holdings Channel reports. The fund owned 10,462 shares of the oil and gas producer’s stock after selling 22,733 shares during the quarter. Burford Brothers Inc.’s holdings in Enterprise Products Partners were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the company. Novare Capital Management LLC acquired a new stake in shares of Enterprise Products Partners in the 4th quarter worth about $334,000. AlphaCore Capital LLC increased its holdings in shares of Enterprise Products Partners by 14.6% in the 4th quarter. AlphaCore Capital LLC now owns 447,383 shares of the oil and gas producer’s stock worth $14,343,000 after acquiring an additional 57,142 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Enterprise Products Partners by 57.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 464,128 shares of the oil and gas producer’s stock worth $14,880,000 after acquiring an additional 169,535 shares during the period. Fulcrum Asset Management LLP increased its holdings in shares of Enterprise Products Partners by 16.1% in the 4th quarter. Fulcrum Asset Management LLP now owns 16,733 shares of the oil and gas producer’s stock worth $537,000 after acquiring an additional 2,320 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Enterprise Products Partners by 7.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock worth $144,592,000 after acquiring an additional 327,807 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.
Insider Buying and Selling at Enterprise Products Partners
In other Enterprise Products Partners news, CEO Aj Teague acquired 2,665 shares of Enterprise Products Partners stock in a transaction dated Friday, March 20th. The stock was bought at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the transaction, the chief executive officer 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 document filed with the SEC, which is available through this hyperlink. Company insiders own 32.60% of the company’s stock.
Enterprise Products Partners Stock Performance
Enterprise Products Partners (NYSE:EPD – Get Free Report) last posted its quarterly earnings data 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 business had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter last year, the business posted $0.64 EPS. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current fiscal year.
Enterprise Products Partners Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a dividend of $0.55 per share. The ex-dividend date was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 5.6%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on EPD. Barclays increased their target price on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $39.00 target price on shares of Enterprise Products Partners in a research report on Thursday. Citigroup reiterated a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. JPMorgan Chase & Co. increased their target price on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. 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 given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $39.60.
Check Out Our Latest Report on Enterprise Products Partners
Enterprise Products Partners 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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