Securian Asset Management Inc trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 191,300 shares of the oil and gas producer’s stock after selling 600 shares during the period. Securian Asset Management Inc’s holdings in Enterprise Products Partners were worth $5,567,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in EPD. Valley National Advisers Inc. raised its stake in shares of Enterprise Products Partners by 38.2% in the 1st quarter. Valley National Advisers Inc. now owns 26,953 shares of the oil and gas producer’s stock valued at $784,000 after purchasing an additional 7,456 shares during the period. Covenant Asset Management LLC increased its position in shares of Enterprise Products Partners by 0.5% in the first quarter. Covenant Asset Management LLC now owns 70,064 shares of the oil and gas producer’s stock valued at $2,039,000 after acquiring an additional 345 shares during the last quarter. Parsons Capital Management Inc. RI acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $210,000. Glenview State Bank Trust DEPT. grew its holdings in Enterprise Products Partners by 2.3% during the first quarter. Glenview State Bank Trust DEPT. now owns 43,798 shares of the oil and gas producer’s stock worth $1,274,000 after purchasing an additional 1,000 shares during the period. Finally, Bank of Montreal Can grew its holdings in Enterprise Products Partners by 86.9% during the first quarter. Bank of Montreal Can now owns 8,937,630 shares of the oil and gas producer’s stock worth $260,084,000 after purchasing an additional 4,156,710 shares during the period. Hedge funds and other institutional investors own 36.74% of the company’s stock.
A number of equities analysts recently commented on EPD shares. Bank of America set a $32.00 price target on Enterprise Products Partners and gave the stock a “buy” rating in a report on Tuesday, January 29th. Evercore ISI started coverage on Enterprise Products Partners in a report on Tuesday, February 5th. They set an “outperform” rating for the company. Zacks Investment Research upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Wednesday, February 13th. Finally, Goldman Sachs Group upgraded Enterprise Products Partners from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $30.00 to $32.00 in a report on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $33.27.
NYSE EPD traded down $0.20 on Wednesday, reaching $28.63. The company had a trading volume of 2,147,318 shares, compared to its average volume of 4,158,665. The company has a market capitalization of $62.30 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 3.53 and a beta of 0.95. Enterprise Products Partners L.P. has a fifty-two week low of $23.33 and a fifty-two week high of $30.05. The company has a quick ratio of 0.58, a current ratio of 0.77 and a debt-to-equity ratio of 0.99.
Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.09. The business had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Enterprise Products Partners had a net margin of 12.67% and a return on equity of 19.50%. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Research analysts expect that Enterprise Products Partners L.P. will post 2.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Tuesday, April 30th were given a dividend of $0.4375 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.75 dividend on an annualized basis and a yield of 6.11%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio is 90.21%.
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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