Delta Investment Management LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 208,465 shares of the oil and gas producer’s stock after buying an additional 6,054 shares during the quarter. Enterprise Products Partners makes up 1.6% of Delta Investment Management LLC’s holdings, making the stock its 18th biggest position. Delta Investment Management LLC’s holdings in Enterprise Products Partners were worth $5,028,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EPD. Capital Advisors Inc. OK grew its holdings in Enterprise Products Partners by 0.7% during the 4th quarter. Capital Advisors Inc. OK now owns 54,986 shares of the oil and gas producer’s stock worth $1,326,000 after acquiring an additional 403 shares in the last quarter. FSM Wealth Advisors LLC grew its holdings in Enterprise Products Partners by 1.1% during the 4th quarter. FSM Wealth Advisors LLC now owns 37,215 shares of the oil and gas producer’s stock worth $898,000 after acquiring an additional 419 shares in the last quarter. Meixler Investment Management Ltd. grew its holdings in Enterprise Products Partners by 0.6% during the 3rd quarter. Meixler Investment Management Ltd. now owns 66,550 shares of the oil and gas producer’s stock worth $1,583,000 after acquiring an additional 425 shares in the last quarter. Private Ocean LLC lifted its position in shares of Enterprise Products Partners by 7.5% during the 3rd quarter. Private Ocean LLC now owns 6,337 shares of the oil and gas producer’s stock worth $150,000 after buying an additional 443 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Enterprise Products Partners by 0.5% during the 1st quarter. Advisors Asset Management Inc. now owns 102,021 shares of the oil and gas producer’s stock worth $2,633,000 after buying an additional 458 shares during the last quarter. Institutional investors and hedge funds own 26.54% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on EPD. Citigroup began coverage on shares of Enterprise Products Partners in a research report on Thursday, December 8th. They set a “buy” rating and a $31.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, March 9th. TD Securities boosted their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 2nd. Scotiabank began coverage on shares of Enterprise Products Partners in a research report on Thursday, March 2nd. They set a “sector outperform” rating and a $31.00 price objective for the company. Finally, Wolfe Research upgraded shares of Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research report on Monday, January 9th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus target price of $30.83.
Insider Transactions at Enterprise Products Partners
In related news, CEO Aj Teague purchased 11,950 shares of the stock in a transaction dated Monday, March 20th. The shares were acquired at an average cost of $25.15 per share, with a total value of $300,542.50. Following the purchase, the chief executive officer now directly owns 2,491,895 shares in the company, valued at approximately $62,671,159.25. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Carin Marcy Barth purchased 5,000 shares of the stock in a transaction dated Tuesday, December 27th. The shares were acquired at an average cost of $23.99 per share, with a total value of $119,950.00. Following the purchase, the director now directly owns 75,776 shares in the company, valued at approximately $1,817,866.24. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Aj Teague acquired 11,950 shares of the stock in a transaction that occurred on Monday, March 20th. The stock was acquired at an average cost of $25.15 per share, for a total transaction of $300,542.50. Following the completion of the purchase, the chief executive officer now owns 2,491,895 shares in the company, valued at approximately $62,671,159.25. The disclosure for this purchase can be found here. Insiders have purchased a total of 20,600 shares of company stock valued at $508,421 in the last ninety days. 32.60% of the stock is currently owned by company insiders.
Enterprise Products Partners Stock Performance
EPD traded up $0.29 during trading on Monday, hitting $25.60. The stock had a trading volume of 1,471,918 shares, compared to its average volume of 4,666,361. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.66 and a current ratio of 0.86. The firm has a market capitalization of $55.57 billion, a P/E ratio of 10.12 and a beta of 1.10. The company’s 50-day moving average price is $25.82 and its 200 day moving average price is $25.14. Enterprise Products Partners L.P. has a twelve month low of $22.90 and a twelve month high of $28.65.
Enterprise Products Partners (NYSE:EPD – Get Rating) last announced its quarterly earnings data on Wednesday, February 1st. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05. The company had revenue of $13.65 billion for the quarter, compared to analysts’ expectations of $14.74 billion. Enterprise Products Partners had a net margin of 9.43% and a return on equity of 20.38%. Enterprise Products Partners’s revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.5 EPS for the current fiscal year.
Enterprise Products Partners Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st were paid a $0.49 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a yield of 7.66%. The ex-dividend date was Monday, January 30th. Enterprise Products Partners’s payout ratio is currently 78.40%.
About Enterprise Products Partners
Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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