Allworth Financial LP Buys 14,252 Shares of Enterprise Products Partners L.P. $EPD

Allworth Financial LP increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 14.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 115,884 shares of the oil and gas producer’s stock after acquiring an additional 14,252 shares during the quarter. Allworth Financial LP’s holdings in Enterprise Products Partners were worth $3,715,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Bancorp USA Inc. purchased a new position in Enterprise Products Partners in the 3rd quarter worth about $292,194,000. Corient Private Wealth LLC increased its stake in Enterprise Products Partners by 119.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock worth $74,859,000 after buying an additional 1,313,976 shares during the period. Berkley W R Corp increased its stake in Enterprise Products Partners by 17.9% in the 3rd quarter. Berkley W R Corp now owns 6,000,000 shares of the oil and gas producer’s stock worth $187,620,000 after buying an additional 910,206 shares during the period. Victory Capital Management Inc. increased its stake in Enterprise Products Partners by 70.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer’s stock worth $46,765,000 after buying an additional 619,014 shares during the period. Finally, Duff & Phelps Investment Management Co. increased its stake in Enterprise Products Partners by 35.7% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,750,560 shares of the oil and gas producer’s stock worth $54,740,000 after buying an additional 460,071 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a report on Tuesday, March 31st. The Goldman Sachs Group restated a “neutral” rating and issued a $39.00 price target on shares of Enterprise Products Partners in a report on Thursday. TD Cowen restated a “hold” rating and issued a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Thursday, January 22nd. Finally, Stifel Nicolaus increased their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $39.60.

Insider Activity

In other Enterprise Products Partners news, CEO Aj Teague purchased 2,665 shares of Enterprise Products Partners stock in a transaction dated Friday, March 20th. The shares were acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the transaction, the chief executive officer owned 77,576 shares of the company’s stock, valued at $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 32.60% of the company’s stock.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $39.24 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.74. The firm has a market cap of $84.82 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The company has a 50 day moving average price of $37.82 and a 200-day moving average price of $34.72. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $39.74.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. During the same period in the previous year, the company earned $0.64 EPS. Enterprise Products Partners’s quarterly revenue was down 6.7% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.92 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio is currently 81.48%.

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.