Indie Asset Partners LLC Has $384,000 Holdings in Enterprise Products Partners L.P. (NYSE:EPD)
Indie Asset Partners LLC cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 5.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 19,596 shares of the oil and gas producer’s stock after selling 1,100 shares during the quarter. Indie Asset Partners LLC’s holdings in Enterprise Products Partners were worth $384,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of EPD. BlackRock Inc. lifted its stake in Enterprise Products Partners by 13.8% in the third quarter. BlackRock Inc. now owns 16,909,589 shares of the oil and gas producer’s stock valued at $267,003,000 after buying an additional 2,049,635 shares during the period. Energy Income Partners LLC grew its stake in Enterprise Products Partners by 7.7% in the 3rd quarter. Energy Income Partners LLC now owns 17,434,504 shares of the oil and gas producer’s stock valued at $275,291,000 after purchasing an additional 1,240,558 shares during the period. Natixis lifted its position in shares of Enterprise Products Partners by 13.7% during the 3rd quarter. Natixis now owns 7,001,700 shares of the oil and gas producer’s stock valued at $110,557,000 after buying an additional 845,000 shares during the last quarter. Cooperman Leon G purchased a new position in shares of Enterprise Products Partners during the 3rd quarter valued at $7,895,000. Finally, Principal Financial Group Inc. lifted its holdings in Enterprise Products Partners by 7.5% during the 4th quarter. Principal Financial Group Inc. now owns 6,294,457 shares of the oil and gas producer’s stock worth $123,308,000 after purchasing an additional 438,860 shares in the last quarter. 30.51% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Aj Teague purchased 5,025 shares of Enterprise Products Partners stock in a transaction that occurred on Thursday, December 3rd. The shares were acquired at an average cost of $20.07 per share, for a total transaction of $100,851.75. Following the transaction, the chief executive officer now directly owns 1,995,160 shares in the company, valued at $40,042,861.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 37.50% of the stock is owned by company insiders.
Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.35). Enterprise Products Partners had a return on equity of 17.76% and a net margin of 16.10%. The company had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $7.24 billion. During the same quarter in the previous year, the business earned $0.50 earnings per share. Enterprise Products Partners’s revenue was down 12.0% compared to the same quarter last year. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 11th. Investors of record on Friday, January 29th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 8.40%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, January 28th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 83.72%.
A number of brokerages recently issued reports on EPD. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell began coverage on Enterprise Products Partners in a report on Thursday, December 3rd. They set an “outperform” rating and a $27.00 price objective on the stock. Evercore ISI raised Enterprise Products Partners from an “in-line” rating to an “outperform” rating and set a $24.00 price objective on the stock in a report on Friday, November 13th. Mizuho increased their price objective on Enterprise Products Partners from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, January 20th. TheStreet raised Enterprise Products Partners from a “c” rating to a “b-” rating in a report on Friday, November 27th. Finally, Wolfe Research raised Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Monday, November 23rd. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $25.29.
Enterprise Products Partners Profile
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.
Recommended Story: Why is a lock-up period needed for an IPO?
Want to see what other hedge funds are holding EPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enterprise Products Partners L.P. (NYSE:EPD).
Receive News & Ratings for Enterprise Products Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enterprise Products Partners and related companies with MarketBeat.com's FREE daily email newsletter.