Essex Savings Bank acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,290 shares of the oil and gas producer’s stock, valued at approximately $32,000.
A number of other hedge funds and other institutional investors have also modified their holdings of EPD. Trust Asset Management LLC grew its stake in Enterprise Products Partners by 2,608.2% in the 3rd quarter. Trust Asset Management LLC now owns 7,802,034 shares of the oil and gas producer’s stock valued at $103,000 after acquiring an additional 7,513,942 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Enterprise Products Partners by 3,877.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,367,467 shares of the oil and gas producer’s stock worth $125,478,000 after purchasing an additional 4,257,649 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Enterprise Products Partners by 7.2% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 42,260,456 shares of the oil and gas producer’s stock worth $1,214,143,000 after purchasing an additional 2,841,648 shares during the last quarter. Morgan Stanley boosted its stake in shares of Enterprise Products Partners by 8.1% during the 3rd quarter. Morgan Stanley now owns 19,671,087 shares of the oil and gas producer’s stock worth $565,149,000 after purchasing an additional 1,472,976 shares during the last quarter. Finally, Virtus ETF Advisers LLC acquired a new stake in shares of Enterprise Products Partners during the 3rd quarter worth about $39,541,000. 36.84% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Aj Teague bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 31st. The shares were acquired at an average cost of $24.36 per share, with a total value of $243,600.00. Following the completion of the transaction, the chief executive officer now owns 1,654,372 shares of the company’s stock, valued at $40,300,501.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders purchased 55,005 shares of company stock worth $1,390,132 over the last three months. Corporate insiders own 37.50% of the company’s stock.
EPD opened at $27.55 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.70. Enterprise Products Partners L.P. has a 1 year low of $23.10 and a 1 year high of $30.05. The company has a market capitalization of $59.97 billion, a P/E ratio of 14.20, a P/E/G ratio of 4.79 and a beta of 0.96.
Enterprise Products Partners (NYSE:EPD) last released its earnings results on Thursday, January 31st. The oil and gas producer reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.09. Enterprise Products Partners had a net margin of 11.42% and a return on equity of 18.34%. The business had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $9.46 billion. During the same period last year, the company earned $0.36 earnings per share. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 1.93 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 8th. Investors of record on Thursday, January 31st were given a $0.435 dividend. The ex-dividend date was Wednesday, January 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.43. This represents a $1.74 annualized dividend and a dividend yield of 6.32%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 89.69%.
EPD has been the topic of several analyst reports. Bank of America set a $35.00 price target on shares of Enterprise Products Partners and gave the stock a “buy” rating in a research note on Thursday, November 1st. Evercore ISI initiated coverage on shares of Enterprise Products Partners in a research note on Tuesday. They set an “outperform” rating on the stock. Barclays set a $33.00 price target on shares of Enterprise Products Partners and gave the stock a “buy” rating in a research note on Friday, October 12th. Citigroup decreased their price target on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating on the stock in a research note on Thursday, November 29th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 31st. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $32.61.
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Enterprise Products Partners Company Profile
Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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