Enterprise Products Partners L.P. (EPD) Shares Bought by Jennison Associates LLC

Jennison Associates LLC raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 27.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,238,341 shares of the oil and gas producer’s stock after purchasing an additional 269,814 shares during the period. Jennison Associates LLC’s holdings in Enterprise Products Partners were worth $34,265,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Roanoke Asset Management Corp NY increased its position in shares of Enterprise Products Partners by 9.0% in the 2nd quarter. Roanoke Asset Management Corp NY now owns 44,778 shares of the oil and gas producer’s stock worth $1,239,000 after purchasing an additional 3,697 shares during the last quarter. Baldwin Brothers Inc. MA increased its position in shares of Enterprise Products Partners by 2.5% in the 2nd quarter. Baldwin Brothers Inc. MA now owns 380,084 shares of the oil and gas producer’s stock worth $10,517,000 after purchasing an additional 9,193 shares during the last quarter. Douglas Lane & Associates LLC increased its position in shares of Enterprise Products Partners by 17.0% in the 2nd quarter. Douglas Lane & Associates LLC now owns 16,501 shares of the oil and gas producer’s stock worth $457,000 after purchasing an additional 2,400 shares during the last quarter. Cullen Frost Bankers Inc. increased its position in shares of Enterprise Products Partners by 8.1% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 105,726 shares of the oil and gas producer’s stock worth $2,926,000 after purchasing an additional 7,934 shares during the last quarter. Finally, Colorado Capital Management Inc. bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth about $440,000. 36.59% of the stock is owned by institutional investors.

Shares of NYSE:EPD opened at $29.60 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a fifty-two week low of $23.10 and a fifty-two week high of $30.05. The stock has a market cap of $63.77 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 5.84 and a beta of 0.94.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, August 1st. The oil and gas producer reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. Enterprise Products Partners had a net margin of 8.95% and a return on equity of 14.42%. The business had revenue of $8.47 billion during the quarter, compared to the consensus estimate of $8.55 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. equities analysts expect that Enterprise Products Partners L.P. will post 1.68 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 8th. Investors of record on Tuesday, July 31st were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date was Monday, July 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.43. Enterprise Products Partners’s dividend payout ratio is currently 130.30%.

EPD has been the subject of several research analyst reports. Barclays boosted their target price on shares of Enterprise Products Partners from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, April 30th. Deutsche Bank initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, April 19th. They issued a “buy” rating and a $31.00 target price for the company. Zacks Investment Research raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Monday, July 2nd. BMO Capital Markets reissued a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a research report on Friday, July 13th. Finally, US Capital Advisors reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, July 17th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $32.40.

In other news, CEO Aj Teague bought 3,390 shares of Enterprise Products Partners stock in a transaction on Thursday, August 2nd. The stock was purchased at an average cost of $29.48 per share, with a total value of $99,937.20. Following the purchase, the chief executive officer now directly owns 1,616,790 shares of the company’s stock, valued at approximately $47,662,969.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 37.50% of the company’s stock.

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.

Read More: Earnings Per Share (EPS) Explained

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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