Nations Financial Group Inc. IA ADV boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 6.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 198,645 shares of the oil and gas producer’s stock after acquiring an additional 12,306 shares during the period. Enterprise Products Partners accounts for 0.7% of Nations Financial Group Inc. IA ADV’s holdings, making the stock its 25th biggest position. Nations Financial Group Inc. IA ADV’s holdings in Enterprise Products Partners were worth $4,724,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in EPD. Fairfield Bush & CO. acquired a new position in shares of Enterprise Products Partners in the first quarter valued at approximately $31,000. Ameliora Wealth Management Ltd. acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth $32,000. McIlrath & Eck LLC grew its stake in Enterprise Products Partners by 86.4% in the 3rd 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 last quarter. Wagner Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter worth about $37,000. Finally, Kistler Tiffany Companies LLC boosted its stake in shares of Enterprise Products Partners by 43.1% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 1,670 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 503 shares during the last quarter. Hedge funds and other institutional investors own 26.54% of the company’s stock.
Enterprise Products Partners Price Performance
Enterprise Products Partners stock traded down $0.23 during midday trading on Tuesday, hitting $26.15. 620,444 shares of the company’s stock were exchanged, compared to its average volume of 4,683,334. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.61 and a current ratio of 0.86. The stock has a 50-day moving average price of $25.23 and a two-hundred day moving average price of $25.31. Enterprise Products Partners L.P. has a 52-week low of $22.75 and a 52-week high of $28.65. The company has a market cap of $56.89 billion, a P/E ratio of 10.55 and a beta of 1.11.
Enterprise Products Partners (NYSE:EPD – Get Rating) last announced its quarterly earnings data on Wednesday, February 1st. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The business 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 20.50% and a net margin of 9.43%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.5 earnings per share for the current 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 represents a $1.96 annualized dividend and a dividend yield of 7.50%. The ex-dividend date was Monday, January 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.48. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.40%.
Insider Activity at Enterprise Products Partners
In related news, Director John R. Rutherford purchased 10,000 shares of Enterprise Products Partners stock in a transaction on Wednesday, November 23rd. The shares were bought at an average cost of $24.88 per share, for a total transaction of $248,800.00. Following the acquisition, the director now owns 123,941 shares in the company, valued at approximately $3,083,652.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Aj Teague acquired 21,150 shares of the company’s stock in a transaction that occurred on Tuesday, December 20th. The shares were bought at an average price of $23.60 per share, with a total value of $499,140.00. Following the completion of the transaction, the chief executive officer now directly owns 2,335,225 shares in the company, valued at $55,111,310. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John R. Rutherford purchased 10,000 shares of the stock in a transaction on Wednesday, November 23rd. The stock was acquired at an average cost of $24.88 per share, with a total value of $248,800.00. Following the acquisition, the director now owns 123,941 shares of the company’s stock, valued at approximately $3,083,652.08. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 39,800 shares of company stock worth $955,819. 32.60% of the stock is owned by corporate insiders.
Analyst Ratings Changes
EPD has been the subject of a number of recent analyst reports. Wolfe Research raised shares of Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $27.00 price target for the company in a research report on Monday, January 9th. TD Securities boosted their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. Finally, Citigroup began coverage on Enterprise Products Partners in a report on Thursday, December 8th. They set a “buy” rating and a $31.00 price target for the company. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.60.
Enterprise Products Partners Profile
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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