Equitable Holdings Inc. lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 53.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 321,090 shares of the oil and gas producer’s stock after purchasing an additional 111,583 shares during the quarter. Equitable Holdings Inc.’s holdings in Enterprise Products Partners were worth $6,290,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. ForthRight Wealth Management LLC purchased a new position in Enterprise Products Partners during the fourth quarter worth about $25,000. Capstone Triton Financial Group LLC purchased a new position in shares of Enterprise Products Partners during the fourth quarter worth about $27,000. Clearview Wealth Advisors LLC purchased a new position in shares of Enterprise Products Partners during the fourth quarter worth about $30,000. BNC Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the third quarter worth approximately $25,000. Finally, Prime Capital Investment Advisors LLC lifted its position in Enterprise Products Partners by 46.9% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,963 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 627 shares during the last quarter. Institutional investors own 30.51% of the company’s stock.
EPD has been the topic of several research reports. Smith Barney Citigroup assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, December 3rd. They set an “outperform” rating and a $27.00 price objective on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on Enterprise Products Partners in a research note on Thursday, December 3rd. They set an “outperform” rating and a $27.00 price target for the company. Mizuho raised their price objective on Enterprise Products Partners from $24.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, January 20th. Evercore ISI raised Enterprise Products Partners from an “in-line” rating to an “outperform” rating and set a $24.00 target price for the company in a research note on Friday, November 13th. Finally, Wolfe Research upgraded Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Monday, November 23rd. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $25.29.
Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 2nd. The oil and gas producer reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.35). The company had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $7.24 billion. Enterprise Products Partners had a return on equity of 17.76% and a net margin of 16.10%. The firm’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 earnings per share. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 11th. Investors of record on Friday, January 29th were paid a $0.45 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.45. This represents a $1.80 dividend on an annualized basis and a yield of 8.36%. The ex-dividend date was Thursday, January 28th. Enterprise Products Partners’s dividend payout ratio is presently 83.72%.
In other news, CEO Aj Teague acquired 5,025 shares of the business’s stock in a transaction on Thursday, December 3rd. The shares were acquired at an average cost of $20.07 per share, with a total value of $100,851.75. Following the transaction, the chief executive officer now owns 1,995,160 shares in the company, valued at approximately $40,042,861.20. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company 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.
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