Hartford Financial Management Inc. decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,641 shares of the oil and gas producer’s stock after selling 517 shares during the quarter. Hartford Financial Management Inc.’s holdings in Enterprise Products Partners were worth $851,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in EPD. Epoch Investment Partners Inc. lifted its stake in shares of Enterprise Products Partners by 16.0% in the fourth quarter. Epoch Investment Partners Inc. now owns 4,739,232 shares of the oil and gas producer’s stock worth $92,841,000 after acquiring an additional 653,492 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Enterprise Products Partners by 5.3% in the fourth quarter. Clearbridge Investments LLC now owns 9,783,342 shares of the oil and gas producer’s stock worth $191,656,000 after acquiring an additional 493,805 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in shares of Enterprise Products Partners by 151.7% in the fourth quarter. Jupiter Asset Management Ltd. now owns 809,661 shares of the oil and gas producer’s stock worth $15,861,000 after acquiring an additional 488,012 shares in the last quarter. Principal Financial Group Inc. raised its stake in Enterprise Products Partners by 7.5% during the fourth quarter. Principal Financial Group Inc. now owns 6,294,457 shares of the oil and gas producer’s stock valued at $123,308,000 after buying an additional 438,860 shares in the last quarter. Finally, Plaisance Capital LLC acquired a new stake in Enterprise Products Partners during the fourth quarter valued at approximately $5,550,000. Institutional investors and hedge funds own 30.51% of the company’s stock.
A number of brokerages have issued reports on EPD. Morgan Stanley increased their price target on Enterprise Products Partners from $29.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, March 29th. Mizuho increased their price target on Enterprise Products Partners from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, January 20th. Finally, TD Securities began coverage on Enterprise Products Partners in a research note on Tuesday. They set a “buy” rating and a $28.00 price target for the company. Fourteen equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $25.77.
Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.35). The business had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $7.24 billion. Enterprise Products Partners had a net margin of 16.10% and a return on equity of 17.76%. Enterprise Products Partners’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.50 EPS. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 12th. Stockholders of record on Friday, April 30th will be issued a $0.45 dividend. The ex-dividend date is Thursday, April 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.84%. Enterprise Products Partners’s payout ratio is currently 83.72%.
About Enterprise Products Partners
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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