Enterprise Products Partners L.P. $EPD Shares Purchased by LPL Financial LLC

LPL Financial LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,153,365 shares of the oil and gas producer’s stock after buying an additional 247,282 shares during the period. LPL Financial LLC’s holdings in Enterprise Products Partners were worth $133,157,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its stake in Enterprise Products Partners by 12.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after buying an additional 1,940,583 shares during the last quarter. Energy Income Partners LLC boosted its stake in Enterprise Products Partners by 0.6% in the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock worth $459,829,000 after buying an additional 80,884 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Enterprise Products Partners by 1.9% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,570,499 shares of the oil and gas producer’s stock worth $361,810,000 after buying an additional 214,995 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Enterprise Products Partners in the 3rd quarter worth about $292,194,000. Finally, Berkley W R Corp boosted its stake in Enterprise Products Partners by 17.9% in the 3rd quarter. Berkley W R Corp now owns 6,000,000 shares of the oil and gas producer’s stock worth $187,620,000 after buying an additional 910,206 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $37.94 on Thursday. The company has a market cap of $82.02 billion, a P/E ratio of 14.05, a PEG ratio of 1.33 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The business’s 50-day simple moving average is $38.02 and its 200 day simple moving average is $35.63.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.48%.

Insider Activity at Enterprise Products Partners

In related news, CEO Aj Teague bought 2,665 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the acquisition, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. This represents a 3.56% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 32.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Morgan Stanley reissued an “underweight” rating and issued a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a research note on Wednesday, May 20th. Barclays raised their price objective on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. The Goldman Sachs Group restated a “neutral” rating and issued a $39.00 price objective on shares of Enterprise Products Partners in a report on Thursday, May 14th. Scotiabank restated a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Finally, Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $39.67.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.