Jennison Associates LLC Has $27.19 Million Stake in Enterprise Products Partners L.P. $EPD

Jennison Associates LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 4.6% during the first quarter, Holdings Channel reports. The fund owned 718,543 shares of the oil and gas producer’s stock after acquiring an additional 31,447 shares during the quarter. Jennison Associates LLC’s holdings in Enterprise Products Partners were worth $27,190,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alps Advisors Inc. grew its holdings in Enterprise Products Partners by 0.6% during the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after purchasing an additional 260,305 shares during the last quarter. Auto Owners Insurance Co lifted its stake in shares of Enterprise Products Partners by 3,106.0% in the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after buying an additional 31,060,000 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Enterprise Products Partners by 4.8% during the 4th quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock worth $612,870,000 after buying an additional 883,983 shares during the period. Goldman Sachs Group Inc. grew its stake in Enterprise Products Partners by 12.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after buying an additional 1,940,583 shares during the last quarter. Finally, Energy Income Partners LLC grew its stake in Enterprise Products Partners by 0.6% in the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock valued at $459,829,000 after buying an additional 80,884 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EPD. Royal Bank Of Canada boosted their target price on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. TD Cowen reaffirmed a “hold” rating and issued a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Scotiabank reiterated a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $40.00 to $42.00 in a research note on Wednesday, March 25th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Hold” and a consensus price target of $40.13.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $38.75 on Tuesday. The firm’s 50-day moving average is $37.67 and its 200-day moving average is $36.59. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The company has a market cap of $83.76 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.37 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter in the previous year, the business posted $0.64 EPS. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.97 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.56 dividend. The ex-dividend date is Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.