KKM Financial LLC Acquires 22,603 Shares of Enterprise Products Partners L.P. $EPD

KKM Financial LLC boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 22.1% during the 3rd quarter, Holdings Channel reports. The firm owned 125,002 shares of the oil and gas producer’s stock after buying an additional 22,603 shares during the period. KKM Financial LLC’s holdings in Enterprise Products Partners were worth $3,909,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tred Avon Family Wealth LLC bought a new stake in Enterprise Products Partners in the 3rd quarter valued at $1,015,000. Tectonic Advisors LLC increased its stake in Enterprise Products Partners by 10.0% in the 3rd quarter. Tectonic Advisors LLC now owns 678,769 shares of the oil and gas producer’s stock worth $21,225,000 after acquiring an additional 61,669 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Enterprise Products Partners by 3.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer’s stock worth $39,153,000 after acquiring an additional 36,339 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Enterprise Products Partners by 20.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer’s stock worth $7,189,000 after acquiring an additional 38,660 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of Enterprise Products Partners by 118.9% during the 2nd quarter. Corient Private Wealth LLC now owns 2,407,544 shares of the oil and gas producer’s stock valued at $74,658,000 after acquiring an additional 1,307,485 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on EPD shares. Citigroup reaffirmed a “buy” rating and set a $39.00 price target (up from $36.00) on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. The Goldman Sachs Group restated a “neutral” rating and issued a $32.00 target price on shares of Enterprise Products Partners in a report on Friday, December 19th. Wells Fargo & Company increased their price target on shares of Enterprise Products Partners from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday. Scotiabank reissued a “sector perform” rating and set a $37.00 price objective (up from $35.00) on shares of Enterprise Products Partners in a research note on Thursday, February 5th. Finally, UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.71.

Insider Activity

In related news, Director John R. Rutherford purchased 15,000 shares of the business’s stock in a transaction dated Monday, December 29th. The shares were purchased at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the acquisition, the director owned 173,586 shares in the company, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $37.01 on Monday. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $38.22. The company’s 50-day moving average is $34.78 and its 200 day moving average is $32.77. The firm has a market capitalization of $80.00 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.48 and a beta of 0.58. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74.

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

Enterprise Products Partners Increases Dividend

The business 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 is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Friday, January 30th. Enterprise Products Partners’s payout ratio is presently 82.71%.

About Enterprise Products Partners

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.