Boston Partners acquired a new position in Enterprise Products (NYSE:EPD) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 188,788 shares of the oil and gas producer’s stock, valued at approximately $4,622,000.
A number of other institutional investors and hedge funds also recently modified their holdings of EPD. Global Trust Asset Management LLC purchased a new stake in Enterprise Products in the fourth quarter worth about $123,000. Vigilant Capital Management LLC bought a new position in shares of Enterprise Products during the fourth quarter valued at approximately $126,000. Johnson Financial Group Inc. increased its stake in shares of Enterprise Products by 315.8% during the fourth quarter. Johnson Financial Group Inc. now owns 5,256 shares of the oil and gas producer’s stock valued at $140,000 after purchasing an additional 3,992 shares in the last quarter. First Dallas Securities Inc. bought a new position in shares of Enterprise Products during the fourth quarter valued at approximately $143,000. Finally, University of Texas Investment Managment Co. bought a new position in shares of Enterprise Products during the fourth quarter valued at approximately $176,000. Institutional investors and hedge funds own 36.18% of the company’s stock.
A number of brokerages have weighed in on EPD. ValuEngine raised shares of Enterprise Products from a “sell” rating to a “hold” rating in a research note on Wednesday. Barclays raised their target price on shares of Enterprise Products from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, April 30th. Deutsche Bank began coverage on shares of Enterprise Products in a research note on Thursday, April 19th. They set a “buy” rating and a $31.00 target price for the company. Seaport Global Securities set a $27.00 target price on shares of Enterprise Products and gave the company a “buy” rating in a research note on Monday, April 9th. Finally, Bank of America decreased their target price on shares of Enterprise Products from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, March 27th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Enterprise Products currently has a consensus rating of “Buy” and an average target price of $30.82.
Enterprise Products (NYSE:EPD) last announced its quarterly earnings results on Monday, April 30th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.03. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.32 billion. Enterprise Products had a net margin of 9.41% and a return on equity of 12.95%. During the same quarter last year, the firm earned $0.36 earnings per share. sell-side analysts anticipate that Enterprise Products will post 1.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 8th. Investors of record on Monday, April 30th were given a dividend of $0.4275 per share. The ex-dividend date was Friday, April 27th. This represents a $1.71 annualized dividend and a dividend yield of 6.08%. This is an increase from Enterprise Products’s previous quarterly dividend of $0.43. Enterprise Products’s dividend payout ratio (DPR) is 129.55%.
In other news, CEO Aj Teague purchased 24,665 shares of Enterprise Products stock in a transaction that occurred on Thursday, March 29th. The stock was bought at an average price of $24.54 per share, with a total value of $605,279.10. Following the completion of the transaction, the chief executive officer now directly owns 1,616,790 shares of the company’s stock, valued at $39,676,026.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 37.50% of the stock is owned by company insiders.
Enterprise Products 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.
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