Jennison Associates LLC increased its position in Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 15.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,090,266 shares of the oil and gas producer’s stock after purchasing an additional 145,863 shares during the quarter. Jennison Associates LLC owned approximately 0.05% of Enterprise Products Partners worth $25,927,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. U.S. Capital Wealth Advisors LLC lifted its stake in shares of Enterprise Products Partners by 5.6% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 1,289,517 shares of the oil and gas producer’s stock valued at $30,665,000 after purchasing an additional 68,066 shares during the period. Atria Investments LLC lifted its stake in shares of Enterprise Products Partners by 25.3% in the 3rd quarter. Atria Investments LLC now owns 64,804 shares of the oil and gas producer’s stock valued at $1,541,000 after purchasing an additional 13,068 shares during the period. Tranquility Partners LLC lifted its stake in shares of Enterprise Products Partners by 17.3% in the 3rd quarter. Tranquility Partners LLC now owns 18,158 shares of the oil and gas producer’s stock valued at $432,000 after purchasing an additional 2,676 shares during the period. Moloney Securities Asset Management LLC lifted its stake in shares of Enterprise Products Partners by 3.6% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 25,949 shares of the oil and gas producer’s stock valued at $617,000 after purchasing an additional 902 shares during the period. Finally, Geneva Partners LLC purchased a new position in Enterprise Products Partners during the third quarter valued at $951,000. Hedge funds and other institutional investors own 26.54% of the company’s stock.
Insider Buying and Selling at Enterprise Products Partners
In related news, Director John R. Rutherford purchased 10,000 shares of the business’s stock in a transaction on Wednesday, November 23rd. The stock was acquired at an average price of $24.88 per share, with a total value of $248,800.00. Following the completion of the acquisition, the director now owns 123,941 shares of the company’s stock, valued at approximately $3,083,652.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John R. Rutherford purchased 10,000 shares of the business’s stock in a transaction on Wednesday, November 23rd. The stock was acquired at an average price of $24.88 per share, with a total value of $248,800.00. Following the completion of the acquisition, the director now owns 123,941 shares of the company’s stock, valued at approximately $3,083,652.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Aj Teague acquired 21,150 shares of the stock in a transaction dated Tuesday, December 20th. The stock was acquired at an average price of $23.60 per share, for a total transaction of $499,140.00. Following the completion of the transaction, the chief executive officer now directly owns 2,335,225 shares of the company’s stock, valued at $55,111,310. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 39,800 shares of company stock valued at $955,819. Company insiders own 32.60% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on EPD. Citigroup began coverage on Enterprise Products Partners in a research note on Thursday, December 8th. They set a “buy” rating and a $31.00 price objective for the company. Wolfe Research upgraded Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research note on Monday, January 9th. Tudor Pickering cut 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. Tudor, Pickering, Holt & Co. lowered Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $29.00 target price for the company. in a report on Tuesday, October 18th. Finally, StockNews.com assumed coverage on Enterprise Products Partners in a report on Wednesday, October 12th. They issued a “buy” rating for the company. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.
Enterprise Products Partners Stock Performance
Shares of EPD opened at $25.75 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.61. Enterprise Products Partners L.P. has a one year low of $22.75 and a one year high of $28.65. The firm has a market capitalization of $56.02 billion, a P/E ratio of 11.10 and a beta of 1.11. The business has a fifty day moving average of $24.53 and a 200 day moving average of $25.19.
Enterprise Products Partners (NYSE:EPD – Get Rating) last issued its quarterly earnings data on Tuesday, November 1st. The oil and gas producer reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Enterprise Products Partners had a return on equity of 19.59% and a net margin of 9.12%. The company had revenue of $15.47 billion during the quarter, compared to analyst estimates of $13.85 billion. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 7.61%. The ex-dividend date of this dividend is Monday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.48. Enterprise Products Partners’s payout ratio is currently 81.90%.
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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