Abbrea Capital LLC lessened its stake in Enterprise Products (NYSE:EPD) by 28.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,935 shares of the oil and gas producer’s stock after selling 27,505 shares during the period. Abbrea Capital LLC’s holdings in Enterprise Products were worth $1,712,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. OppenheimerFunds Inc. grew its holdings in Enterprise Products by 8.7% during the 4th quarter. OppenheimerFunds Inc. now owns 19,470,902 shares of the oil and gas producer’s stock worth $516,174,000 after acquiring an additional 1,562,015 shares in the last quarter. Alps Advisors Inc. grew its holdings in Enterprise Products by 3.8% during the 4th quarter. Alps Advisors Inc. now owns 40,421,936 shares of the oil and gas producer’s stock worth $1,071,586,000 after acquiring an additional 1,488,055 shares in the last quarter. Highland Capital Management LP grew its holdings in Enterprise Products by 107.0% during the 4th quarter. Highland Capital Management LP now owns 1,774,113 shares of the oil and gas producer’s stock worth $47,032,000 after acquiring an additional 917,000 shares in the last quarter. Global X Management Co. LLC grew its holdings in Enterprise Products by 25.3% during the 4th quarter. Global X Management Co. LLC now owns 3,708,775 shares of the oil and gas producer’s stock worth $98,320,000 after acquiring an additional 749,418 shares in the last quarter. Finally, Beck Mack & Oliver LLC grew its holdings in Enterprise Products by 80.3% during the 4th quarter. Beck Mack & Oliver LLC now owns 1,626,636 shares of the oil and gas producer’s stock worth $43,122,000 after acquiring an additional 724,406 shares in the last quarter. 37.04% of the stock is currently owned by institutional investors.
EPD has been the topic of several recent research reports. UBS reiterated a “buy” rating and set a $34.00 target price (down from $36.00) on shares of Enterprise Products in a report on Friday, March 2nd. Barclays set a $30.00 target price on shares of Enterprise Products and gave the stock a “buy” rating in a report on Saturday, March 10th. Stifel Nicolaus increased their target price on shares of Enterprise Products from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Bank of America dropped their target price on shares of Enterprise Products from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, March 27th. Finally, Seaport Global Securities set a $27.00 target price on shares of Enterprise Products and gave the stock a “buy” rating in a report on Monday, April 9th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $30.82.
NYSE:EPD opened at $28.33 on Wednesday. Enterprise Products has a fifty-two week low of $23.10 and a fifty-two week high of $29.51. The stock has a market capitalization of $60.55 billion, a PE ratio of 21.46, a PEG ratio of 4.37 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 released its quarterly earnings results on Monday, April 30th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Enterprise Products had a net margin of 9.41% and a return on equity of 12.95%. The business had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $8.32 billion. During the same period last year, the business earned $0.36 EPS. equities research analysts forecast that Enterprise Products will post 1.58 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 8th. Stockholders of record on Monday, April 30th were issued a $0.4275 dividend. This is a boost from Enterprise Products’s previous quarterly dividend of $0.43. This represents a $1.71 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date was Friday, April 27th. Enterprise Products’s dividend payout ratio (DPR) is currently 129.55%.
In other news, CEO Aj Teague purchased 24,665 shares of the stock in a transaction dated Thursday, March 29th. The shares were acquired at an average cost of $24.54 per share, for a total transaction of $605,279.10. Following the acquisition, the chief executive officer now owns 1,616,790 shares of the company’s stock, valued at $39,676,026.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 37.50% of the stock is currently owned by company insiders.
Enterprise Products Profile
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.
Receive News & Ratings for Enterprise Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enterprise Products and related companies with MarketBeat.com's FREE daily email newsletter.