Bollard Group LLC Has $52.10 Million Stock Position in Enterprise Products Partners L.P. $EPD

Bollard Group LLC cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 13.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,625,178 shares of the oil and gas producer’s stock after selling 255,786 shares during the quarter. Enterprise Products Partners comprises 1.3% of Bollard Group LLC’s holdings, making the stock its 10th biggest position. Bollard Group LLC’s holdings in Enterprise Products Partners were worth $52,103,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. PMV Capital Advisers LLC bought a new stake in shares of Enterprise Products Partners during the 4th quarter worth $25,000. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $31,000. Texas Capital Bancshares Inc TX bought a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $32,000. Abich Financial Wealth Management LLC bought a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $32,000. Finally, Daytona Street Capital LLC bought a new stake in shares of Enterprise Products Partners during the 4th quarter worth $42,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Price Performance

EPD opened at $37.29 on Friday. The stock has a fifty day moving average of $38.00 and a 200-day moving average of $35.67. The firm has a market capitalization of $80.60 billion, a P/E ratio of 13.81, a PEG ratio of 1.33 and a beta of 0.49. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17. 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 (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 analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. During the same quarter in the previous year, the company earned $0.64 EPS. Enterprise Products Partners’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company 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 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Insider Activity

In other news, CEO Aj Teague acquired 2,665 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was 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 owned 77,576 shares in the company, valued at approximately $2,912,978.80. The trade was a 3.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 32.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. TD Cowen reissued a “hold” rating and set a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. The Goldman Sachs Group restated a “neutral” rating and issued a $39.00 target price on shares of Enterprise Products Partners in a report on Thursday, May 14th. Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Saturday. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Finally, Weiss Ratings lowered Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, May 21st. 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 stock. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Hold” and a consensus target price of $39.67.

Enterprise Products Partners 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.