Lincoln National Corp lifted its position in Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 17.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,754 shares of the oil and gas producer’s stock after buying an additional 12,541 shares during the quarter. Lincoln National Corp’s holdings in Enterprise Products Partners were worth $2,020,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in EPD. BlackRock Inc. increased its holdings in shares of Enterprise Products Partners by 4.7% in the 1st quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock valued at $646,548,000 after acquiring an additional 1,114,690 shares during the last quarter. Neuberger Berman Group LLC grew its stake in Enterprise Products Partners by 1.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 19,014,357 shares of the oil and gas producer’s stock worth $452,162,000 after buying an additional 276,360 shares during the last quarter. Energy Income Partners LLC grew its stake in Enterprise Products Partners by 6.3% during the 3rd quarter. Energy Income Partners LLC now owns 14,701,701 shares of the oil and gas producer’s stock worth $349,607,000 after buying an additional 871,211 shares during the last quarter. Clearbridge Investments LLC grew its stake in Enterprise Products Partners by 12.5% during the 1st quarter. Clearbridge Investments LLC now owns 11,888,708 shares of the oil and gas producer’s stock worth $306,848,000 after buying an additional 1,323,267 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. grew its stake in Enterprise Products Partners by 0.8% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 10,734,290 shares of the oil and gas producer’s stock worth $255,261,000 after buying an additional 86,078 shares during the last quarter. Hedge funds and other institutional investors own 26.54% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Scotiabank assumed coverage on Enterprise Products Partners in a research note on Thursday, March 2nd. They set a “sector outperform” rating and a $31.00 price target on the stock. Mizuho restated a “buy” rating and issued a $32.00 target price on shares of Enterprise Products Partners in a research note on Thursday, March 30th. Morgan Stanley boosted their price target on shares of Enterprise Products Partners from $31.00 to $33.00 in a research note on Tuesday, April 25th. Wolfe Research raised Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a report on Monday, January 9th. Finally, Barclays increased their target price on Enterprise Products Partners from $29.00 to $30.00 in a research note on Tuesday, April 18th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.00.
Enterprise Products Partners Trading Down 1.4 %
Shares of EPD stock opened at $25.27 on Friday. The firm has a 50-day moving average price of $26.00 and a 200 day moving average price of $25.39. Enterprise Products Partners L.P. has a twelve month low of $22.90 and a twelve month high of $28.65. The company has a market capitalization of $54.86 billion, a price-to-earnings ratio of 9.95 and a beta of 1.10. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.96.
Enterprise Products Partners (NYSE:EPD – Get Rating) last announced its earnings results on Tuesday, May 2nd. The oil and gas producer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. The firm had revenue of $12.44 billion during the quarter, compared to the consensus estimate of $13.75 billion. Enterprise Products Partners had a net margin of 9.69% and a return on equity of 20.58%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 EPS. Research analysts forecast that Enterprise Products Partners L.P. will post 2.58 earnings per share for the current fiscal year.
Enterprise Products Partners Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 12th. Shareholders of record on Friday, April 28th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 7.76%. The ex-dividend date of this dividend is Thursday, April 27th. Enterprise Products Partners’s dividend payout ratio is presently 77.17%.
Insider Transactions at Enterprise Products Partners
In related news, CEO Aj Teague purchased 11,950 shares of Enterprise Products Partners stock in a transaction that occurred on Monday, March 20th. The shares were purchased at an average cost of $25.15 per share, with a total value of $300,542.50. Following the transaction, the chief executive officer now owns 2,491,895 shares of the company’s stock, valued at approximately $62,671,159.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 32.60% of the company’s stock.
About Enterprise Products Partners
Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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