Duff & Phelps Investment Management Co. Grows Holdings in Enterprise Products Partners L.P. $EPD

Duff & Phelps Investment Management Co. grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 35.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,750,560 shares of the oil and gas producer’s stock after purchasing an additional 460,071 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.08% of Enterprise Products Partners worth $54,740,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Winnow Wealth LLC purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at $28,000. Traub Capital Management LLC bought a new position in Enterprise Products Partners during the second quarter valued at $31,000. Abich Financial Wealth Management LLC bought a new stake in shares of Enterprise Products Partners in the 3rd quarter worth about $32,000. Financial Consulate Inc. purchased a new stake in shares of Enterprise Products Partners during the third quarter valued at $33,000. Finally, Davis Capital Management purchased a new stake in Enterprise Products Partners in the third quarter worth about $45,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $37.20 on Thursday. The company has a 50 day simple moving average of $34.59 and a two-hundred day simple moving average of $32.69. The stock has a market cap of $80.41 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 2.61 and a beta of 0.59. The company has a current ratio of 1.04, a quick ratio of 0.74 and a debt-to-equity ratio of 1.07. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $38.22.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The firm had revenue of $13.79 billion for the quarter, compared to analyst estimates of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid 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 Friday, January 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.71%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EPD shares. Jefferies Financial Group reiterated a “hold” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, February 4th. TD Cowen boosted their price target on Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “hold” rating in a research note on Wednesday, February 4th. Raymond James Financial lowered shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target on the stock. in a research note on Monday, January 5th. Barclays raised their price target 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. Finally, JPMorgan Chase & Co. upped their target price on Enterprise Products Partners from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Hold” and a consensus price target of $36.57.

Insider Buying and Selling at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The stock was acquired at an average price of $32.09 per share, with a total value of $481,350.00. Following the acquisition, the director directly owned 173,586 shares in the company, valued at $5,570,374.74. This represents a 9.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 32.60% of the company’s stock.

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.