Mesirow Financial Investment Management Inc. Sells 16,530 Shares of Enterprise Products Partners L.P. $EPD

Mesirow Financial Investment Management Inc. reduced its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 424,593 shares of the oil and gas producer’s stock after selling 16,530 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Enterprise Products Partners were worth $13,613,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Allworth Financial LP grew its position in shares of Enterprise Products Partners by 14.0% in the 4th quarter. Allworth Financial LP now owns 115,884 shares of the oil and gas producer’s stock worth $3,715,000 after buying an additional 14,252 shares during the last quarter. Cardinal Point Capital Management ULC bought a new stake in shares of Enterprise Products Partners in the 4th quarter worth approximately $224,000. Navalign LLC bought a new stake in shares of Enterprise Products Partners in the 4th quarter worth approximately $87,000. Moneco Advisors LLC grew its position in shares of Enterprise Products Partners by 0.7% in the 4th quarter. Moneco Advisors LLC now owns 118,372 shares of the oil and gas producer’s stock worth $3,795,000 after buying an additional 818 shares during the last quarter. Finally, Stonebridge Financial Group LLC MO bought a new stake in shares of Enterprise Products Partners in the 4th quarter worth approximately $225,000. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EPD shares. TD Cowen reiterated a “hold” rating and issued a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Monday, April 6th. Scotiabank restated a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday. Citigroup restated a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Finally, Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $39.13.

Insider Transactions at Enterprise Products Partners

In related news, CEO Aj Teague acquired 2,665 shares of the stock in a transaction on Friday, March 20th. The stock was acquired at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the purchase, the chief executive officer owned 77,576 shares of the company’s stock, valued at $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Trading Up 0.2%

EPD opened at $38.22 on Thursday. The stock has a market cap of $82.63 billion, a PE ratio of 14.16, a PEG ratio of 1.43 and a beta of 0.52. The company has a quick ratio of 0.74, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The business has a 50 day moving average of $37.74 and a 200-day moving average of $34.63. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $39.74.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The firm had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 EPS. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.92 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 Thursday, May 14th. Shareholders of record on Thursday, April 30th will be paid a dividend of $0.55 per share. The ex-dividend date is Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a yield of 5.8%. Enterprise Products Partners’s payout ratio is presently 81.48%.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.