Brown Advisory Inc. boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 19.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 241,853 shares of the oil and gas producer’s stock after buying an additional 39,643 shares during the quarter. Brown Advisory Inc.’s holdings in Enterprise Products Partners were worth $6,411,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Moors & Cabot Inc. lifted its stake in shares of Enterprise Products Partners by 3.8% in the 3rd quarter. Moors & Cabot Inc. now owns 319,218 shares of the oil and gas producer’s stock valued at $8,314,000 after purchasing an additional 11,685 shares during the period. Vaughan David Investments Inc. IL lifted its stake in shares of Enterprise Products Partners by 471.1% in the 3rd quarter. Vaughan David Investments Inc. IL now owns 349,504 shares of the oil and gas producer’s stock valued at $21,124,000 after purchasing an additional 288,304 shares during the period. Commonwealth Equity Services Inc lifted its stake in shares of Enterprise Products Partners by 1.7% in the 3rd quarter. Commonwealth Equity Services Inc now owns 811,121 shares of the oil and gas producer’s stock valued at $21,145,000 after purchasing an additional 13,461 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Enterprise Products Partners by 12.2% in the 3rd quarter. Macquarie Group Ltd. now owns 1,148,228 shares of the oil and gas producer’s stock valued at $29,935,000 after purchasing an additional 125,100 shares during the period. Finally, Tortoise Investment Management LLC lifted its stake in shares of Enterprise Products Partners by 1,444.4% in the 3rd quarter. Tortoise Investment Management LLC now owns 13,900 shares of the oil and gas producer’s stock valued at $362,000 after purchasing an additional 13,000 shares during the period. 36.65% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on the company. Royal Bank of Canada reissued a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a research note on Tuesday, January 16th. Bank of America assumed coverage on Enterprise Products Partners in a research note on Tuesday, January 9th. They issued a “buy” rating on the stock. Zacks Investment Research raised Enterprise Products Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Stifel Nicolaus increased their price target on Enterprise Products Partners from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Jefferies Group reissued a “buy” rating and issued a $31.00 price target on shares of Enterprise Products Partners in a research note on Friday, January 12th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $31.14.
Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, January 31st. The oil and gas producer reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Enterprise Products Partners had a net margin of 9.57% and a return on equity of 12.53%. The business had revenue of $8.43 billion during the quarter, compared to analysts’ expectations of $7.02 billion. During the same quarter in the prior year, the company earned $0.31 EPS. The firm’s quarterly revenue was up 30.1% on a year-over-year basis. research analysts expect that Enterprise Products Partners L.P. will post 1.52 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 7th. Investors of record on Wednesday, January 31st were given a $0.425 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.59%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.42. Enterprise Products Partners’s dividend payout ratio is currently 153.15%.
In other news, CEO Aj Teague acquired 11,300 shares of the stock in a transaction that occurred on Wednesday, December 27th. The stock was acquired at an average price of $26.47 per share, for a total transaction of $299,111.00. Following the transaction, the chief executive officer now directly owns 1,474,183 shares in the company, valued at $39,021,624.01. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 37.50% of the stock is owned by corporate insiders.
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Enterprise Products Partners Profile
Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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