Northwestern Mutual Wealth Management Co. Purchases 18,667 Shares of Enterprise Products Partners L.P. $EPD

Northwestern Mutual Wealth Management Co. boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 313,260 shares of the oil and gas producer’s stock after acquiring an additional 18,667 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Enterprise Products Partners were worth $10,043,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Energy Income Partners LLC increased its stake in Enterprise Products Partners by 0.6% in the third quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock valued at $459,829,000 after acquiring an additional 80,884 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Enterprise Products Partners by 1.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,570,499 shares of the oil and gas producer’s stock valued at $361,810,000 after acquiring an additional 214,995 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in Enterprise Products Partners in the third quarter valued at approximately $292,194,000. Berkley W R Corp increased its stake in Enterprise Products Partners by 17.9% in the third quarter. Berkley W R Corp now owns 6,000,000 shares of the oil and gas producer’s stock valued at $187,620,000 after acquiring an additional 910,206 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Enterprise Products Partners by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock valued at $144,592,000 after acquiring an additional 327,807 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Insider Transactions at Enterprise Products Partners

In other news, CEO Aj Teague bought 2,665 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average price 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. This represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 32.60% of the stock is currently owned by insiders.

Enterprise Products Partners Price Performance

EPD stock opened at $37.22 on Tuesday. The firm has a market cap of $80.45 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.31 and a beta of 0.52. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17. The company’s fifty day simple moving average is $38.14 and its 200 day simple moving average is $35.33.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) 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 net margin of 11.45% and a return on equity of 19.53%. Enterprise Products Partners’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 EPS. On average, analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Truist Financial raised their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Wall Street Zen lowered shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Royal Bank Of Canada raised their target price on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Finally, Scotiabank restated a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $39.67.

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.