Prudential Financial Inc. acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,604 shares of the oil and gas producer’s stock, valued at approximately $444,000.
Several other institutional investors have also added to or reduced their stakes in EPD. Fairfield Bush & CO. bought a new position in Enterprise Products Partners in the 1st quarter worth $31,000. McIlrath & Eck LLC increased its stake in shares of Enterprise Products Partners by 86.4% in the 3rd quarter. McIlrath & Eck LLC now owns 1,400 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 649 shares in the last quarter. Wagner Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth about $37,000. SRS Capital Advisors Inc. increased its stake in shares of Enterprise Products Partners by 115.4% in the 2nd quarter. SRS Capital Advisors Inc. now owns 1,680 shares of the oil and gas producer’s stock worth $41,000 after acquiring an additional 900 shares in the last quarter. Finally, Burleson & Company LLC increased its stake in shares of Enterprise Products Partners by 133.3% in the 3rd quarter. Burleson & Company LLC now owns 1,750 shares of the oil and gas producer’s stock worth $42,000 after acquiring an additional 1,000 shares in the last quarter. 26.54% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Enterprise Products Partners news, Director John R. Rutherford acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were bought at an average price of $24.88 per share, with a total value of $248,800.00. Following the completion of the acquisition, the director now owns 123,941 shares in the company, valued at approximately $3,083,652.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John R. Rutherford bought 10,000 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The shares were bought at an average price of $24.88 per share, for a total transaction of $248,800.00. Following the purchase, the director now owns 123,941 shares in the company, valued at $3,083,652.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carin Marcy Barth bought 5,000 shares of the firm’s stock in a transaction on Tuesday, December 27th. The shares were purchased at an average price of $23.99 per share, for a total transaction of $119,950.00. Following the purchase, the director now owns 75,776 shares in the company, valued at approximately $1,817,866.24. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 39,800 shares of company stock valued at $955,819. 32.60% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on EPD shares. Wolfe Research upgraded shares of Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $27.00 price target for the company in a research note on Monday, January 9th. Citigroup started coverage on shares of Enterprise Products Partners in a research note on Thursday, December 8th. They issued a “buy” rating and a $31.00 price target for the company. Finally, TD Securities increased their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.60.
Enterprise Products Partners Stock Performance
Shares of NYSE EPD opened at $26.78 on Friday. The firm’s 50-day moving average price is $25.13 and its 200-day moving average price is $25.32. The company has a quick ratio of 0.61, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The company has a market cap of $58.26 billion, a PE ratio of 10.71 and a beta of 1.11. Enterprise Products Partners L.P. has a 52-week low of $22.75 and a 52-week high of $28.65.
Enterprise Products Partners (NYSE:EPD – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The firm had revenue of $13.65 billion for the quarter, compared to the consensus estimate of $14.74 billion. Enterprise Products Partners had a net margin of 9.43% and a return on equity of 20.50%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 EPS. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.5 EPS for the current year.
Enterprise Products Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Tuesday, January 31st were issued a $0.49 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.48. The ex-dividend date was Monday, January 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 7.32%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.40%.
Enterprise Products Partners Profile
Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Enterprise Products Partners, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Enterprise Products Partners wasn’t on the list.
While Enterprise Products Partners currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
