Horizon Kinetics Asset Management LLC Has $3.59 Million Stake in Enterprise Products Partners L.P. $EPD

Horizon Kinetics Asset Management LLC reduced its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 12.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 112,063 shares of the oil and gas producer’s stock after selling 15,310 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Enterprise Products Partners were worth $3,593,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Miller Howard Investments Inc. NY lifted its holdings in Enterprise Products Partners by 1.0% in the fourth quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock valued at $99,775,000 after buying an additional 31,733 shares during the period. Royal Palms Capital LLC acquired a new position in Enterprise Products Partners in the fourth quarter valued at approximately $1,830,000. PNC Financial Services Group Inc. lifted its holdings in Enterprise Products Partners by 3.0% in the third quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer’s stock valued at $39,153,000 after buying an additional 36,339 shares during the period. Advisors Asset Management Inc. lifted its holdings in Enterprise Products Partners by 20.2% in the third quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer’s stock valued at $7,189,000 after buying an additional 38,660 shares during the period. Finally, Oxbow Advisors LLC lifted its holdings in Enterprise Products Partners by 3.0% in the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock valued at $42,610,000 after buying an additional 39,052 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Enterprise Products Partners

In related news, CEO Aj Teague acquired 2,665 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the acquisition, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. The trade was a 3.56% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 32.60% of the stock is currently owned by insiders.

Enterprise Products Partners Trading Down 0.6%

EPD opened at $37.29 on Wednesday. The firm’s fifty day moving average is $38.04 and its two-hundred day moving average is $35.58. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The firm has a market cap of $80.61 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.34 and a beta of 0.49. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). The firm had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.48%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Jefferies Financial Group increased their price objective on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a report on Tuesday, March 31st. Barclays increased their target price on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Wednesday, March 4th. Finally, TD Cowen reiterated a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $39.67.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.