QRG Capital Management Inc. purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,081 shares of the oil and gas producer’s stock, valued at approximately $221,000.
Other institutional investors have also bought and sold shares of the company. Moneta Group Investment Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 104,195.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock valued at $3,192,621,000 after purchasing an additional 132,237,142 shares during the last quarter. Cowa LLC boosted its holdings in shares of Enterprise Products Partners by 9,906.0% during the 1st quarter. Cowa LLC now owns 7,753,281 shares of the oil and gas producer’s stock valued at $2,001,000 after purchasing an additional 7,675,795 shares during the last quarter. BROOKFIELD Corp ON boosted its holdings in shares of Enterprise Products Partners by 803.7% during the 2nd quarter. BROOKFIELD Corp ON now owns 4,497,730 shares of the oil and gas producer’s stock valued at $118,515,000 after purchasing an additional 4,000,004 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Enterprise Products Partners by 17.6% during the 4th quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock valued at $500,370,000 after purchasing an additional 3,102,695 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Enterprise Products Partners by 16.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock valued at $263,706,000 after purchasing an additional 1,325,390 shares during the last quarter. Hedge funds and other institutional investors own 26.54% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have commented on EPD. Raymond James dropped their price objective on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “strong-buy” rating for the company in a report on Wednesday, November 1st. Stifel Nicolaus increased their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Wells Fargo & Company increased their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a report on Tuesday, February 13th. Finally, StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $32.31.
Read Our Latest Stock Report on Enterprise Products Partners
Enterprise Products Partners Stock Down 1.0 %
Shares of NYSE EPD opened at $27.40 on Tuesday. The company has a market cap of $59.51 billion, a P/E ratio of 10.87 and a beta of 1.02. The firm has a 50-day simple moving average of $26.76 and a two-hundred day simple moving average of $26.75. Enterprise Products Partners L.P. has a 1 year low of $24.66 and a 1 year high of $27.95. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.65.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last issued its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.77%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.
Enterprise Products Partners Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were given a dividend of $0.515 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.50. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.52%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.75%.
About Enterprise Products Partners
Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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