Renaissance Investment Group LLC Raises Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Renaissance Investment Group LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 0.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 260,837 shares of the oil and gas producer’s stock after purchasing an additional 507 shares during the period. Enterprise Products Partners makes up about 1.9% of Renaissance Investment Group LLC’s holdings, making the stock its 25th largest position. Renaissance Investment Group LLC’s holdings in Enterprise Products Partners were worth $6,291,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Fairfield Bush & CO. purchased a new stake in shares of Enterprise Products Partners during the 1st quarter worth $31,000. Ameliora Wealth Management Ltd. purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $32,000. Bray Capital Advisors boosted its position in shares of Enterprise Products Partners by 333.3% during the 3rd quarter. Bray Capital Advisors now owns 1,300 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 1,000 shares in the last quarter. McIlrath & Eck LLC boosted its position in shares of Enterprise Products Partners by 86.4% during the 3rd 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 in the last quarter. Finally, Wagner Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter worth $37,000. 26.54% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Down 0.7 %

Shares of EPD stock opened at $25.07 on Friday. The firm has a 50-day moving average price of $25.86 and a 200 day moving average price of $25.19. Enterprise Products Partners L.P. has a twelve month low of $22.90 and a twelve month high of $28.65. The company has a market capitalization of $54.42 billion, a price-to-earnings ratio of 10.03 and a beta of 1.10. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.96.

Enterprise Products Partners (NYSE:EPDGet Rating) last announced its earnings results on Wednesday, February 1st. The oil and gas producer reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.05. The firm had revenue of $13.65 billion during the quarter, compared to the consensus estimate of $14.74 billion. Enterprise Products Partners had a net margin of 9.43% and a return on equity of 20.38%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 EPS. Research analysts forecast that Enterprise Products Partners L.P. will post 2.5 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st were issued a $0.49 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.48. The ex-dividend date was Monday, January 30th. This represents a $1.96 annualized dividend and a yield of 7.82%. Enterprise Products Partners’s payout ratio is 78.40%.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, Director Carin Marcy Barth purchased 5,000 shares of the stock in a transaction on Tuesday, December 27th. The stock was bought at an average price of $23.99 per share, for a total transaction of $119,950.00. Following the acquisition, the director now directly owns 75,776 shares of the company’s stock, valued at $1,817,866.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Enterprise Products Partners news, Director Carin Marcy Barth purchased 5,000 shares of the stock in a transaction on Tuesday, December 27th. The stock was bought at an average price of $23.99 per share, for a total transaction of $119,950.00. Following the acquisition, the director now directly owns 75,776 shares of the company’s stock, valued at $1,817,866.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Aj Teague bought 21,150 shares of the firm’s stock in a transaction dated Tuesday, December 20th. The shares were purchased at an average price of $23.60 per share, with a total value of $499,140.00. Following the acquisition, the chief executive officer now directly owns 2,335,225 shares in the company, valued at approximately $55,111,310. The disclosure for this purchase can be found here. Insiders acquired 29,800 shares of company stock worth $707,019 in the last 90 days. 32.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Scotiabank assumed coverage on Enterprise Products Partners in a research note on Thursday, March 2nd. They set a “sector outperform” rating and a $31.00 price target for the company. Wolfe Research raised 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. JPMorgan Chase & Co. lifted their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, March 9th. Citigroup assumed coverage on Enterprise Products Partners in a research note on Thursday, December 8th. They set a “buy” rating and a $31.00 price target for the company. Finally, StockNews.com assumed coverage on Enterprise Products Partners in a research note on Thursday. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.83.

About Enterprise Products Partners

(Get Rating)

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.

Featured Stories

Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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.