Massachusetts Financial Services Co. MA boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 0.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,377,319 shares of the oil and gas producer’s stock after buying an additional 3,344 shares during the period. Massachusetts Financial Services Co. MA owned about 0.54% of Enterprise Products Partners L.P. worth $314,128,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank raised its position in Enterprise Products Partners L.P. by 9.5% in the fourth quarter. Comerica Bank now owns 53,883 shares of the oil and gas producer’s stock valued at $1,476,000 after buying an additional 4,670 shares in the last quarter. Guggenheim Capital LLC increased its stake in Enterprise Products Partners L.P. by 0.8% in the fourth quarter. Guggenheim Capital LLC now owns 143,234 shares of the oil and gas producer’s stock valued at $3,873,000 after buying an additional 1,138 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Enterprise Products Partners L.P. during the fourth quarter valued at approximately $405,000. Ibex Wealth Advisors bought a new stake in Enterprise Products Partners L.P. during the fourth quarter valued at approximately $2,076,000. Finally, Pekin Singer Strauss Asset Management IL increased its stake in Enterprise Products Partners L.P. by 5.0% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 12,422 shares of the oil and gas producer’s stock valued at $336,000 after buying an additional 592 shares during the last quarter. 38.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded down 0.69% during trading on Friday, hitting $25.90. 4,101,658 shares of the stock traded hands. The company’s 50 day moving average is $27.03 and its 200 day moving average is $27.43. The firm has a market cap of $55.66 billion, a PE ratio of 20.39 and a beta of 0.89. Enterprise Products Partners L.P. has a 52-week low of $24.01 and a 52-week high of $30.25.
Enterprise Products Partners L.P. (NYSE:EPD) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 EPS for the quarter, missing the consensus estimate of $0.33 by $0.03. Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. The company had revenue of $6.61 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter last year, the business earned $0.27 EPS. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, equities research analysts predict that Enterprise Products Partners L.P. will post $1.39 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 31st were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.49%. This is a boost from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, July 27th. Enterprise Products Partners L.P.’s dividend payout ratio is currently 132.28%.
Several research firms have recently commented on EPD. BMO Capital Markets set a $33.00 price objective on shares of Enterprise Products Partners L.P. and gave the stock a “buy” rating in a research note on Monday, June 5th. Sanford C. Bernstein restated an “outperform” rating on shares of Enterprise Products Partners L.P. in a research report on Thursday. Stifel Nicolaus restated a “buy” rating and set a $33.00 target price on shares of Enterprise Products Partners L.P. in a research report on Friday, July 14th. Barclays PLC reiterated an “overweight” rating and issued a $31.00 price objective (down previously from $33.00) on shares of Enterprise Products Partners L.P. in a research report on Friday, August 4th. Finally, Morgan Stanley upgraded shares of Enterprise Products Partners L.P. from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $26.37 to $26.50 in a research report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $31.62.
About Enterprise Products Partners L.P.
Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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