First Eagle Investment Management LLC Buys 66,095 Shares of Enterprise Products Partners L.P. $EPD

First Eagle Investment Management LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,915,695 shares of the oil and gas producer’s stock after purchasing an additional 66,095 shares during the period. First Eagle Investment Management LLC’s holdings in Enterprise Products Partners were worth $61,417,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tred Avon Family Wealth LLC bought a new position in Enterprise Products Partners during the third quarter valued at approximately $1,015,000. Miller Howard Investments Inc. NY lifted its position in Enterprise Products Partners by 1.0% during 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 purchasing an additional 31,733 shares during the period. PNC Financial Services Group Inc. lifted its position in Enterprise Products Partners by 3.0% during 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 purchasing an additional 36,339 shares during the period. Advisors Asset Management Inc. lifted its position in Enterprise Products Partners by 20.2% during 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 purchasing an additional 38,660 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Enterprise Products Partners by 70.6% during the third quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer’s stock valued at $46,765,000 after purchasing an additional 619,014 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 2.0%

Shares of EPD stock opened at $37.95 on Tuesday. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $39.74. The stock has a market cap of $82.03 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.40 and a beta of 0.52. The company has a current ratio of 1.04, a quick ratio of 0.74 and a debt-to-equity ratio of 1.07. The company has a 50 day simple moving average of $37.67 and a two-hundred day simple moving average of $34.52.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The business had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.56%. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.8%. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citigroup restated a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Barclays upped their target price on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. Scotiabank upped their target price on shares of Enterprise Products Partners from $37.00 to $39.00 and gave the company a “sector perform” rating in a report on Tuesday, March 17th. Jefferies Financial Group upped their target price 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. Finally, Wells Fargo & Company raised shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $42.00 in a report on Wednesday, March 25th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $38.93.

Insider Activity

In other news, CEO Aj Teague acquired 2,665 shares of Enterprise Products Partners stock in a transaction dated Friday, March 20th. The stock was purchased at an average cost of $37.55 per share, with a total value of $100,070.75. Following the completion of the purchase, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 32.60% of the stock is currently owned by company insiders.

About Enterprise Products Partners

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.