Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,860 shares of the oil and gas producer’s stock after acquiring an additional 7,270 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Enterprise Products Partners were worth $6,533,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bray Capital Advisors increased its holdings in shares of Enterprise Products Partners by 333.3% in the third quarter. Bray Capital Advisors now owns 1,300 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 1,000 shares in the last quarter. Fairfield Bush & CO. acquired a new stake in shares of Enterprise Products Partners in the 1st quarter valued at $31,000. Ameliora Wealth Management Ltd. bought a new stake in shares of Enterprise Products Partners during the third quarter worth $32,000. McIlrath & Eck LLC lifted its stake in shares of Enterprise Products Partners by 86.4% during the third quarter. McIlrath & Eck LLC now owns 1,400 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 649 shares during the period. Finally, RFP Financial Group LLC bought a new position in Enterprise Products Partners in the fourth quarter valued at about $34,000. 26.54% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Enterprise Products Partners
In related news, CEO Aj Teague acquired 11,950 shares of the firm’s stock in a transaction dated Monday, March 20th. The stock was bought at an average price of $25.15 per share, for a total transaction of $300,542.50. Following the acquisition, the chief executive officer now directly owns 2,491,895 shares of the company’s stock, valued at $62,671,159.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 32.60% of the company’s stock.
Enterprise Products Partners Stock Up 1.0 %
NYSE EPD traded up $0.25 during trading hours on Monday, reaching $26.15. 3,284,319 shares of the company’s stock were exchanged, compared to its average volume of 4,657,860. The company’s 50-day moving average is $25.82 and its two-hundred day moving average is $25.10. The company has a market capitalization of $56.77 billion, a price-to-earnings ratio of 10.36 and a beta of 1.10. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.66 and a current ratio of 0.86. Enterprise Products Partners L.P. has a one year low of $22.90 and a one year high of $28.65.
Enterprise Products Partners (NYSE:EPD – Get Rating) last released its earnings results on Wednesday, February 1st. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. The firm had revenue of $13.65 billion during the quarter, compared to analysts’ expectations of $14.74 billion. Enterprise Products Partners had a return on equity of 20.38% and a net margin of 9.43%. The company’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.5 EPS for the current fiscal year.
Enterprise Products Partners Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Stockholders of record on Tuesday, January 31st were paid a dividend of $0.49 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a dividend yield of 7.50%. The ex-dividend date was Monday, January 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.40%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, March 9th. Scotiabank began coverage on shares of Enterprise Products Partners in a report on Thursday, March 2nd. They set a “sector outperform” rating and a $31.00 target price for the company. StockNews.com assumed coverage on Enterprise Products Partners in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. Citigroup initiated coverage on Enterprise Products Partners in a research note on Thursday, December 8th. They set a “buy” rating and a $31.00 price objective for the company. Finally, Mizuho reaffirmed a “buy” rating and issued a $32.00 price target on shares of Enterprise Products Partners in a research note on Thursday. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.83.
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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