Huntington National Bank decreased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,896 shares of the oil and gas producer’s stock after selling 7,880 shares during the period. Huntington National Bank’s holdings in Enterprise Products Partners were worth $3,292,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the stock. Trust Asset Management LLC lifted its stake in Enterprise Products Partners by 2,608.2% in the third quarter. Trust Asset Management LLC now owns 7,802,034 shares of the oil and gas producer’s stock valued at $103,000 after acquiring an additional 7,513,942 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Enterprise Products Partners by 3,877.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,367,467 shares of the oil and gas producer’s stock worth $125,478,000 after purchasing an additional 4,257,649 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in Enterprise Products Partners by 7.2% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 42,260,456 shares of the oil and gas producer’s stock worth $1,214,143,000 after purchasing an additional 2,841,648 shares in the last quarter. Morgan Stanley increased its holdings in Enterprise Products Partners by 8.1% in the 3rd quarter. Morgan Stanley now owns 19,671,087 shares of the oil and gas producer’s stock valued at $565,149,000 after buying an additional 1,472,976 shares during the period. Finally, Virtus ETF Advisers LLC bought a new position in Enterprise Products Partners in the 3rd quarter valued at about $39,541,000. 36.84% of the stock is owned by institutional investors and hedge funds.
EPD has been the topic of several recent analyst reports. Citigroup decreased their target price on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, November 29th. Mizuho initiated coverage on shares of Enterprise Products Partners in a report on Wednesday, November 28th. They set a “buy” rating and a $33.00 target price on the stock. ValuEngine downgraded shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Evercore ISI assumed coverage on shares of Enterprise Products Partners in a research report on Tuesday, February 5th. They issued an “outperform” rating on the stock. Finally, Bank of America set a $35.00 target price on shares of Enterprise Products Partners and gave the company a “buy” rating in a research report on Thursday, November 1st. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $32.50.
In other Enterprise Products Partners news, CEO Aj Teague purchased 10,000 shares of the stock in a transaction that occurred on Monday, December 31st. The shares were bought at an average cost of $24.36 per share, with a total value of $243,600.00. Following the acquisition, the chief executive officer now owns 1,654,372 shares in the company, valued at $40,300,501.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have purchased 30,000 shares of company stock valued at $733,300. 37.50% of the stock is currently owned by corporate insiders.
EPD opened at $28.08 on Friday. The stock has a market capitalization of $61.61 billion, a PE ratio of 14.47, a P/E/G ratio of 4.93 and a beta of 0.96. Enterprise Products Partners L.P. has a 1 year low of $23.10 and a 1 year high of $30.05. The company has a quick ratio of 0.49, a current ratio of 0.70 and a debt-to-equity ratio of 0.96.
Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Thursday, January 31st. The oil and gas producer reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.09. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.46 billion. Enterprise Products Partners had a return on equity of 18.34% and a net margin of 11.42%. During the same period in the previous year, the company posted $0.36 EPS. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 1.93 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 8th. Investors of record on Thursday, January 31st were paid a dividend of $0.435 per share. The ex-dividend date of this dividend was Wednesday, January 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.43. This represents a $1.74 dividend on an annualized basis and a dividend yield of 6.20%. Enterprise Products Partners’s payout ratio is 89.69%.
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Enterprise Products Partners Company Profile
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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