Markel Group Inc. raised its stake in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 612,000 shares of the oil and gas producer’s stock after purchasing an additional 43,000 shares during the period. Markel Group Inc.’s holdings in Enterprise Products Partners were worth $21,793,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Energy Income Partners LLC acquired a new position in Enterprise Products Partners in the 2nd quarter valued at about $508,461,000. Bank of America Corp DE acquired a new stake in Enterprise Products Partners during the second quarter worth approximately $416,553,000. BlackRock Inc. bought a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $255,325,000. Berkley W R Corp bought a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $250,887,000. Finally, Miller Howard Investments Inc. NY boosted its holdings in shares of Enterprise Products Partners by 4.1% during the third quarter. Miller Howard Investments Inc. NY now owns 3,344,118 shares of the oil and gas producer’s stock worth $119,084,000 after acquiring an additional 132,227 shares during the period. 26.07% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on EPD shares. Wall Street Zen lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Morgan Stanley restated an “underweight” rating and issued a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. Capital One Financial started coverage on Enterprise Products Partners in a report on Tuesday, September 22nd. They issued an “equal weight” rating and a $42.00 price objective on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $42.00 price objective on shares of Enterprise Products Partners in a research report on Tuesday, September 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on Enterprise Products Partners from $43.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.18.
Read Our Latest Stock Report on Enterprise Products Partners
Enterprise Products Partners Stock Performance
NYSE EPD opened at $37.45 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $80.87 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.32 and a beta of 0.48. Enterprise Products Partners L.P. has a 12-month low of $30.02 and a 12-month high of $40.17. The firm has a 50-day moving average price of $37.64 and a two-hundred day moving average price of $37.31.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its earnings results on Thursday, October 29th. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. Enterprise Products Partners had a net margin of 10.24% and a return on equity of 21.50%. The firm had revenue of $17.95 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same quarter in the prior year, the business posted $0.61 EPS. The business’s revenue was up 49.3% compared to the same quarter last year. Analysts anticipate that Enterprise Products Partners L.P. will post 3.11 earnings per share for the current year.
Enterprise Products Partners Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Friday, October 30th. Enterprise Products Partners’s payout ratio is 74.17%.
Enterprise Products Partners Company Profile
Enterprise Products Partners L.P. (NYSE: EPD) is a North American midstream energy partnership headquartered in Houston, Texas. The company provides infrastructure and services for the transportation, storage, processing and export of energy products, connecting producers with domestic and international markets.
Its operations include pipelines, storage facilities, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, and marine terminals. Enterprise handles NGLs such as ethane, propane, butanes and natural gasoline, as well as crude oil, refined products, petrochemicals and natural gas.
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