Platform Technology Partners decreased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 3.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 28,220 shares of the oil and gas producer’s stock after selling 998 shares during the quarter. Platform Technology Partners’ holdings in Enterprise Products Partners were worth $681,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Bray Capital Advisors raised its stake in Enterprise Products Partners by 333.3% during the third quarter. Bray Capital Advisors now owns 1,300 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 1,000 shares during the last quarter. Fairfield Bush & CO. purchased a new position in Enterprise Products Partners during the first quarter valued at $31,000. Ameliora Wealth Management Ltd. purchased a new position in Enterprise Products Partners during the third quarter valued at $32,000. McIlrath & Eck LLC raised its stake in shares of Enterprise Products Partners by 86.4% in the third quarter. McIlrath & Eck LLC now owns 1,400 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 649 shares during the last quarter. Finally, Wagner Wealth Management LLC purchased a new position in shares of Enterprise Products Partners in the second quarter worth $37,000. Hedge funds and other institutional investors own 26.54% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on EPD shares. Scotiabank started coverage on Enterprise Products Partners in a research note on Thursday, March 2nd. They issued a “sector outperform” rating and a $31.00 price target for the company. StockNews.com started coverage on Enterprise Products Partners in a research note on Thursday. They issued a “buy” rating for the company. Citigroup started coverage on Enterprise Products Partners in a research note on Thursday, December 8th. They issued a “buy” rating and a $31.00 price target for the company. Wolfe Research upgraded 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 note on Monday, January 9th. Finally, TD Securities boosted their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.83.
Enterprise Products Partners Stock Performance
Enterprise Products Partners (NYSE:EPD – Get Rating) last released its quarterly earnings results on Wednesday, February 1st. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05. Enterprise Products Partners had a return on equity of 20.38% and a net margin of 9.43%. The business had revenue of $13.65 billion during the quarter, compared to analyst estimates of $14.74 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 20.1% on a year-over-year basis. Analysts anticipate that Enterprise Products Partners L.P. will post 2.5 EPS for the current year.
Enterprise Products Partners Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 7.82%. The ex-dividend date was Monday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.48. Enterprise Products Partners’s payout ratio is currently 78.40%.
Insider Buying and Selling at Enterprise Products Partners
In related news, Director Carin Marcy Barth purchased 5,000 shares of the business’s stock in a transaction on Tuesday, December 27th. The stock was acquired at an average price of $23.99 per share, with a total value of $119,950.00. Following the completion of the acquisition, the director now owns 75,776 shares of the company’s stock, valued at approximately $1,817,866.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Enterprise Products Partners news, Director Carin Marcy Barth acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, December 27th. The stock was purchased at an average price of $23.99 per share, with a total value of $119,950.00. Following the completion of the purchase, the director now directly owns 75,776 shares in the company, valued at approximately $1,817,866.24. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Aj Teague acquired 21,150 shares of the company’s stock in a transaction dated Tuesday, December 20th. The stock was acquired at an average cost of $23.60 per share, with a total value of $499,140.00. Following the purchase, the chief executive officer now owns 2,335,225 shares of the company’s stock, valued at $55,111,310. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 29,800 shares of company stock valued at $707,019. Company insiders own 32.60% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on Enterprise Products Partners (EPD)
- MarketBeat Week in Review – 3/13 – 3/17
- This Small Tech With Big Growth Prospects Is Nearing A Buy Point
- Don’t Chase FedEx Higher, Wait For The Pullback
- 3 Stocks For A Defensive Tech Portfolio
- Milk the Dividends on These 3 Cash Cows
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 – Get Rating).
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.