Jacobson & Schmitt Advisors LLC reduced its holdings in Enterprise Products (NYSE:EPD) by 5.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 129,229 shares of the oil and gas producer’s stock after selling 7,145 shares during the period. Enterprise Products comprises 2.2% of Jacobson & Schmitt Advisors LLC’s holdings, making the stock its 24th largest position. Jacobson & Schmitt Advisors LLC’s holdings in Enterprise Products were worth $3,164,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of EPD. OppenheimerFunds Inc. grew its holdings in Enterprise Products by 8.7% in the fourth quarter. OppenheimerFunds Inc. now owns 19,470,902 shares of the oil and gas producer’s stock valued at $516,174,000 after purchasing an additional 1,562,015 shares during the period. Alps Advisors Inc. lifted its position in shares of Enterprise Products by 3.8% in the fourth quarter. Alps Advisors Inc. now owns 40,421,936 shares of the oil and gas producer’s stock valued at $1,071,586,000 after acquiring an additional 1,488,055 shares in the last quarter. Highland Capital Management LP lifted its position in shares of Enterprise Products by 107.0% in the fourth quarter. Highland Capital Management LP now owns 1,774,113 shares of the oil and gas producer’s stock valued at $47,032,000 after acquiring an additional 917,000 shares in the last quarter. Global X Management Co. LLC lifted its position in shares of Enterprise Products by 25.3% in the fourth quarter. Global X Management Co. LLC now owns 3,708,775 shares of the oil and gas producer’s stock valued at $98,320,000 after acquiring an additional 749,418 shares in the last quarter. Finally, Beck Mack & Oliver LLC lifted its position in shares of Enterprise Products by 80.3% in the fourth quarter. Beck Mack & Oliver LLC now owns 1,626,636 shares of the oil and gas producer’s stock valued at $43,122,000 after acquiring an additional 724,406 shares in the last quarter. 36.18% of the stock is currently owned by institutional investors.
In related news, CEO Aj Teague acquired 24,665 shares of Enterprise Products stock in a transaction that occurred on Thursday, March 29th. The shares were purchased at an average price of $24.54 per share, for a total transaction of $605,279.10. Following the completion of the transaction, the chief executive officer now owns 1,616,790 shares in the company, valued at approximately $39,676,026.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 37.50% of the company’s stock.
Shares of Enterprise Products stock opened at $27.89 on Wednesday. Enterprise Products has a one year low of $27.43 and a one year high of $27.94. The company has a market cap of $59.73 billion, a P/E ratio of 21.13, a P/E/G ratio of 4.33 and a beta of 0.83. The company has a current ratio of 0.77, a quick ratio of 0.58 and a debt-to-equity ratio of 1.00.
Enterprise Products (NYSE:EPD) last announced its quarterly earnings data on Monday, April 30th. The oil and gas producer reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.03. Enterprise Products had a return on equity of 12.95% and a net margin of 9.41%. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.32 billion. During the same quarter last year, the business posted $0.36 earnings per share. research analysts predict that Enterprise Products will post 1.58 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 8th. Investors of record on Monday, April 30th were given a dividend of $0.4275 per share. This is an increase from Enterprise Products’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, April 27th. This represents a $1.71 dividend on an annualized basis and a yield of 6.13%. Enterprise Products’s dividend payout ratio (DPR) is presently 129.55%.
Several research firms have recently weighed in on EPD. ValuEngine upgraded Enterprise Products from a “sell” rating to a “hold” rating in a research report on Wednesday. Barclays raised their target price on Enterprise Products from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, April 30th. Seaport Global Securities upgraded Enterprise Products from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Thursday, March 8th. Royal Bank of Canada restated a “buy” rating and issued a $34.00 target price on shares of Enterprise Products in a research report on Tuesday, January 16th. Finally, Deutsche Bank began coverage on Enterprise Products in a research report on Thursday, April 19th. They issued a “buy” rating and a $31.00 target price on the stock. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $30.82.
About Enterprise Products
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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