ACG Wealth grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 21.6% during the 4th quarter, HoldingsChannel reports. The firm owned 38,209 shares of the oil and gas producer’s stock after buying an additional 6,778 shares during the quarter. ACG Wealth’s holdings in Enterprise Products Partners were worth $1,013,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. raised its stake in shares of Enterprise Products Partners by 14.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,988 shares of the oil and gas producer’s stock worth $107,000 after buying an additional 500 shares during the period. Ffcm LLC acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $112,000. Global Trust Asset Management LLC acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $123,000. Vigilant Capital Management LLC acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $126,000. Finally, First Dallas Securities Inc. acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $143,000. Institutional investors and hedge funds own 36.93% of the company’s stock.
EPD has been the subject of several research analyst reports. Tudor Pickering raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, December 13th. BMO Capital Markets reaffirmed a “buy” rating and set a $33.00 target price on shares of Enterprise Products Partners in a research note on Tuesday, November 14th. SunTrust Banks reaffirmed a “buy” rating and set a $29.00 target price on shares of Enterprise Products Partners in a research note on Friday, November 3rd. Royal Bank of Canada reduced their target price on Enterprise Products Partners from $34.00 to $31.00 and set an “outperform” rating for the company in a research note on Tuesday, October 31st. Finally, Jefferies Group reaffirmed a “buy” rating and set a $31.00 target price on shares of Enterprise Products Partners in a research note on Friday, January 12th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Enterprise Products Partners has a consensus rating of “Buy” and a consensus target price of $31.14.
Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, January 31st. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Enterprise Products Partners had a return on equity of 12.53% and a net margin of 9.57%. The business had revenue of $8.43 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the company earned $0.31 EPS. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. sell-side analysts anticipate that Enterprise Products Partners L.P. will post 1.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 31st were paid a $0.425 dividend. The ex-dividend date was Tuesday, January 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.28%. Enterprise Products Partners’s dividend payout ratio (DPR) is 130.77%.
In related news, CEO Aj Teague bought 8,250 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was acquired at an average cost of $24.26 per share, with a total value of $200,145.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 37.50% of the stock is owned by company insiders.
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About Enterprise Products Partners
Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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