Victory Capital Management Inc. Boosts Stock Holdings in Enterprise Products Partners L.P. $EPD

Victory Capital Management Inc. lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 70.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,495,518 shares of the oil and gas producer’s stock after purchasing an additional 619,014 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Enterprise Products Partners worth $46,765,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Energy Income Partners LLC increased its position in shares of Enterprise Products Partners by 14.3% in the second quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock worth $453,498,000 after purchasing an additional 1,834,659 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Enterprise Products Partners by 119.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock valued at $74,859,000 after purchasing an additional 1,313,976 shares during the last quarter. Eagle Global Advisors LLC raised its holdings in shares of Enterprise Products Partners by 42.2% during the 3rd quarter. Eagle Global Advisors LLC now owns 2,931,052 shares of the oil and gas producer’s stock valued at $91,654,000 after buying an additional 870,103 shares in the last quarter. HRT Financial LP lifted its position in Enterprise Products Partners by 118.1% in the 2nd quarter. HRT Financial LP now owns 1,528,580 shares of the oil and gas producer’s stock worth $47,401,000 after buying an additional 827,780 shares during the last quarter. Finally, Prospera Financial Services Inc lifted its position in Enterprise Products Partners by 213.0% in the 2nd quarter. Prospera Financial Services Inc now owns 980,094 shares of the oil and gas producer’s stock worth $30,395,000 after buying an additional 666,967 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

EPD has been the topic of a number of recent research reports. Stifel Nicolaus increased their price target on shares of Enterprise Products Partners from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday. Raymond James Financial lowered shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective for the company. in a report on Monday, January 5th. Wolfe Research cut shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective for the company. in a research note on Wednesday, January 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $32.00 target price on shares of Enterprise Products Partners in a report on Friday, December 19th. Finally, Wells Fargo & Company boosted their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Hold” and an average price target of $36.29.

Insider Activity

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The stock was bought at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the acquisition, the director directly owned 173,586 shares in the company, valued at $5,570,374.74. The trade was a 9.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $37.60 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.60 and a debt-to-equity ratio of 1.07. The firm has a market cap of $81.28 billion, a P/E ratio of 14.14, a P/E/G ratio of 2.67 and a beta of 0.59. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $37.77. The firm has a 50-day moving average of $34.29 and a 200-day moving average of $32.58.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $13.79 billion for the quarter, compared to the consensus estimate of $12.44 billion. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 EPS. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 5.9%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, January 30th. Enterprise Products Partners’s payout ratio is presently 82.71%.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.