Allspring Global Investments Holdings LLC raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 52.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,900 shares of the oil and gas producer’s stock after purchasing an additional 17,200 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Enterprise Products Partners were worth $1,186,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Fairfield Bush & CO. acquired a new stake in shares of Enterprise Products Partners in the 1st quarter valued at about $31,000. McIlrath & Eck LLC boosted its stake in Enterprise Products Partners by 86.4% during the 3rd quarter. McIlrath & Eck LLC now owns 1,400 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 649 shares during the last quarter. Wagner Wealth Management LLC acquired a new position in Enterprise Products Partners during the 2nd quarter valued at about $37,000. SRS Capital Advisors Inc. boosted its stake in Enterprise Products Partners by 115.4% during the 2nd quarter. SRS Capital Advisors Inc. now owns 1,680 shares of the oil and gas producer’s stock valued at $41,000 after purchasing an additional 900 shares during the last quarter. Finally, Burleson & Company LLC boosted its stake in Enterprise Products Partners by 133.3% during the 3rd quarter. Burleson & Company LLC now owns 1,750 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 1,000 shares during the last quarter. 26.54% of the stock is owned by institutional investors.
Insider Activity at Enterprise Products Partners
In other news, CEO Aj Teague acquired 21,150 shares of the firm’s stock in a transaction dated Tuesday, December 20th. The shares were purchased at an average cost of $23.60 per share, for a total transaction of $499,140.00. Following the transaction, the chief executive officer now directly owns 2,335,225 shares of the company’s stock, valued at $55,111,310. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Enterprise Products Partners news, Director Carin Marcy Barth acquired 5,000 shares of the company’s stock in a transaction on Tuesday, December 27th. The stock was 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 of the company’s stock, valued at approximately $1,817,866.24. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Aj Teague purchased 21,150 shares of the company’s stock in a transaction that occurred on Tuesday, December 20th. The shares were purchased at an average cost of $23.60 per share, with a total value of $499,140.00. Following the completion of the purchase, the chief executive officer now owns 2,335,225 shares in the company, valued at approximately $55,111,310. The disclosure for this purchase can be found here. Insiders have purchased a total of 39,800 shares of company stock worth $955,819 over the last quarter. Company insiders own 32.60% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Wolfe Research upgraded Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $27.00 price target for the company in a research note on Monday, January 9th. StockNews.com started coverage on shares of Enterprise Products Partners in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Tudor Pickering cut shares of Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $29.00 price target on the stock. in a report on Tuesday, October 18th. Citigroup began coverage on shares of Enterprise Products Partners in a research note on Thursday, December 8th. They issued a “buy” rating and a $31.00 price objective for the company. Finally, Tudor, Pickering, Holt & Co. lowered shares of Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a research note on Tuesday, October 18th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $30.50.
Enterprise Products Partners Stock Performance
Shares of NYSE:EPD opened at $25.74 on Friday. The company has a market cap of $56.00 billion, a price-to-earnings ratio of 11.09 and a beta of 1.11. The company has a 50-day moving average price of $24.58 and a 200-day moving average price of $25.22. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.97. Enterprise Products Partners L.P. has a 12 month low of $22.75 and a 12 month high of $28.65.
Enterprise Products Partners (NYSE:EPD – Get Rating) last announced its quarterly earnings data on Tuesday, November 1st. The oil and gas producer reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $15.47 billion for the quarter, compared to analysts’ expectations of $13.85 billion. Enterprise Products Partners had a net margin of 9.12% and a return on equity of 19.59%. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.48 EPS for the current year.
Enterprise Products Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Tuesday, January 31st will be given a dividend of $0.49 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, January 30th. This represents a $1.96 dividend on an annualized basis and a yield of 7.61%. Enterprise Products Partners’s dividend payout ratio is 81.90%.
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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