Wade G W & Inc. lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 42.3% in the fourth quarter, HoldingsChannel reports. The firm owned 14,052 shares of the oil and gas producer’s stock after selling 10,299 shares during the quarter. Wade G W & Inc.’s holdings in Enterprise Products Partners were worth $373,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Ameritas Investment Partners Inc. raised its stake in Enterprise Products Partners by 14.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,988 shares of the oil and gas producer’s stock worth $107,000 after acquiring an additional 500 shares in the last quarter. Ffcm LLC acquired a new position in Enterprise Products Partners during the third quarter worth about $112,000. Global Trust Asset Management LLC acquired a new position in Enterprise Products Partners during the fourth quarter worth about $123,000. Vigilant Capital Management LLC acquired a new position in Enterprise Products Partners during the fourth quarter worth about $126,000. Finally, Johnson Financial Group Inc. raised its stake in Enterprise Products Partners by 315.8% during the fourth quarter. Johnson Financial Group Inc. now owns 5,256 shares of the oil and gas producer’s stock worth $140,000 after acquiring an additional 3,992 shares in the last quarter. 36.65% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Aj Teague bought 11,300 shares of Enterprise Products Partners stock in a transaction that occurred on Wednesday, December 27th. The shares were acquired at an average cost of $26.47 per share, for a total transaction of $299,111.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,474,183 shares of the company’s stock, valued at approximately $39,021,624.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 37.50% of the company’s stock.
Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, January 31st. The oil and gas producer reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Enterprise Products Partners had a return on equity of 12.53% and a net margin of 9.57%. The business had revenue of $8.43 billion for the quarter, compared to analysts’ expectations of $7.02 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The firm’s revenue was up 30.1% on a year-over-year basis. sell-side analysts predict that Enterprise Products Partners L.P. will post 1.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 7th. Investors of record on Wednesday, January 31st were issued a $0.425 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 6.67%. Enterprise Products Partners’s dividend payout ratio is presently 128.79%.
Several analysts have recently weighed in on the company. Jefferies Group restated a “buy” rating and set a $31.00 price target on shares of Enterprise Products Partners in a report on Friday, January 12th. Royal Bank of Canada restated a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a report on Tuesday, January 16th. Credit Suisse Group assumed coverage on Enterprise Products Partners in a report on Thursday, January 4th. They set an “outperform” rating and a $31.00 price target on the stock. Bank of America assumed coverage on Enterprise Products Partners in a report on Tuesday, January 9th. They set a “buy” rating on the stock. Finally, Stifel Nicolaus boosted their price target on Enterprise Products Partners from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus price target of $31.14.
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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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