Integrity Alliance LLC. increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 26.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 114,931 shares of the oil and gas producer’s stock after buying an additional 23,681 shares during the quarter. Integrity Alliance LLC.’s holdings in Enterprise Products Partners were worth $3,685,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. PMV Capital Advisers LLC acquired a new position in Enterprise Products Partners during the 4th quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners during the 3rd quarter worth approximately $31,000. Texas Capital Bancshares Inc TX acquired a new position in Enterprise Products Partners during the 3rd quarter worth approximately $32,000. Abich Financial Wealth Management LLC acquired a new position in Enterprise Products Partners during the 3rd quarter worth approximately $32,000. Finally, Daytona Street Capital LLC acquired a new position in Enterprise Products Partners during the 4th quarter worth approximately $42,000. 26.07% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have commented on EPD. Citigroup reissued a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Weiss Ratings lowered Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, May 21st. Barclays boosted their price objective on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. TD Cowen reissued a “hold” rating and set a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Finally, Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Hold” and an average target price of $39.67.
Enterprise Products Partners Stock Performance
Shares of EPD opened at $38.03 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The stock has a 50 day moving average price of $38.15 and a two-hundred day moving average price of $35.21. The firm has a market capitalization of $82.21 billion, a P/E ratio of 14.09, a P/E/G ratio of 1.43 and a beta of 0.52. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). The business had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business’s revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 earnings per share. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.95 earnings per share for the current fiscal year.
Enterprise Products Partners Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a $0.55 dividend. The ex-dividend date of this dividend 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 currently 81.48%.
Insider Activity
In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of Enterprise Products Partners stock in a transaction dated Friday, March 20th. The stock was bought at an average cost of $37.55 per share, with a total value of $100,070.75. Following the completion of the acquisition, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. The trade was a 3.56% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 32.60% of the stock is currently owned by corporate 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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