Morningstar Investment Management LLC Acquires 4,103 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Morningstar Investment Management LLC lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 1.1% during the fourth quarter, HoldingsChannel reports. The firm owned 362,300 shares of the oil and gas producer’s stock after purchasing an additional 4,103 shares during the period. Enterprise Products Partners comprises 2.3% of Morningstar Investment Management LLC’s investment portfolio, making the stock its 11th biggest position. Morningstar Investment Management LLC’s holdings in Enterprise Products Partners were worth $8,739,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Colonial River Wealth Management LLC grew its position in Enterprise Products Partners by 4.7% during the fourth quarter. Colonial River Wealth Management LLC now owns 12,264 shares of the oil and gas producer’s stock worth $296,000 after buying an additional 545 shares in the last quarter. Samalin Investment Counsel LLC boosted its holdings in Enterprise Products Partners by 8.3% during the fourth quarter. Samalin Investment Counsel LLC now owns 43,927 shares of the oil and gas producer’s stock valued at $1,060,000 after purchasing an additional 3,366 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Enterprise Products Partners by 4.7% during the fourth quarter. Continuum Advisory LLC now owns 14,024 shares of the oil and gas producer’s stock valued at $338,000 after purchasing an additional 629 shares in the last quarter. Sei Investments Co. boosted its holdings in Enterprise Products Partners by 16.9% during the fourth quarter. Sei Investments Co. now owns 1,043,134 shares of the oil and gas producer’s stock valued at $25,160,000 after purchasing an additional 151,164 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC acquired a new stake in Enterprise Products Partners during the fourth quarter valued at approximately $1,082,000. 26.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Enterprise Products Partners

In other news, CEO Aj Teague purchased 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, with a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 32.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Scotiabank assumed coverage on Enterprise Products Partners in a report on Thursday, March 2nd. They set a “sector outperform” rating and a $31.00 price objective on the stock. Barclays lifted their price objective on Enterprise Products Partners from $29.00 to $30.00 in a report on Tuesday, April 18th. Morgan Stanley lifted their target price on shares of Enterprise Products Partners from $31.00 to $33.00 in a research note on Tuesday, April 25th. JPMorgan Chase & Co. lifted 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. Finally, Mizuho reiterated a “buy” rating and issued a $32.00 target price on shares of Enterprise Products Partners in a research note on Thursday, March 30th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Enterprise Products Partners Trading Up 0.4 %

EPD stock traded up $0.09 during trading on Friday, hitting $25.53. The company had a trading volume of 1,580,513 shares, compared to its average volume of 4,541,432. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $26.02 and a 200-day moving average price of $25.47. Enterprise Products Partners L.P. has a 12 month low of $22.90 and a 12 month high of $28.65. The stock has a market cap of $55.52 billion, a price-to-earnings ratio of 10.02 and a beta of 1.10.

Enterprise Products Partners (NYSE:EPD – Get Rating) last issued its earnings results on Tuesday, May 2nd. The oil and gas producer reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. The company had revenue of $12.44 billion during the quarter, compared to analysts’ expectations of $13.75 billion. Enterprise Products Partners had a net margin of 9.69% and a return on equity of 20.49%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.59 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Friday, April 28th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 7.68%. The ex-dividend date of this dividend was Thursday, April 27th. Enterprise Products Partners’s payout ratio is 77.17%.

Enterprise Products Partners Profile

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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.