Partners Group Holding AG reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,220 shares of the oil and gas producer’s stock after selling 7,284 shares during the period. Partners Group Holding AG’s holdings in Enterprise Products Partners were worth $2,541,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Wealth Alliance acquired a new position in shares of Enterprise Products Partners in the fourth quarter worth about $51,000. Cedar Mountain Advisors LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at approximately $28,000. Moser Wealth Advisors LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter valued at approximately $28,000. Raab & Moskowitz Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the fourth quarter worth approximately $33,000. Finally, KBC Group NV grew its position in shares of Enterprise Products Partners by 180.0% during the fourth quarter. KBC Group NV now owns 1,400 shares of the oil and gas producer’s stock worth $39,000 after buying an additional 900 shares in the last quarter. Institutional investors and hedge funds own 36.55% of the company’s stock.
Several analysts recently issued reports on the stock. Morgan Stanley cut their price target on shares of Enterprise Products Partners from $32.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. Raymond James dropped their target price on shares of Enterprise Products Partners from $36.00 to $27.00 and set a “strong-buy” rating for the company in a research report on Thursday, March 12th. Piper Sandler cut shares of Enterprise Products Partners from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $32.00 to $24.00 in a research report on Monday, March 9th. Stifel Nicolaus decreased their price target on Enterprise Products Partners from $35.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, March 17th. Finally, ValuEngine upgraded Enterprise Products Partners from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $30.20.
Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Thursday, January 30th. The oil and gas producer reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). The company had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $8.58 billion. Enterprise Products Partners had a return on equity of 18.88% and a net margin of 14.00%. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 12th. Investors of record on Thursday, April 30th will be given a $0.445 dividend. The ex-dividend date is Wednesday, April 29th. This represents a $1.78 annualized dividend and a yield of 12.62%. Enterprise Products Partners’s dividend payout ratio is presently 82.79%.
In other Enterprise Products Partners news, Director Randa Duncan Williams purchased 103,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $28.13 per share, with a total value of $2,897,390.00. Also, Director Richard H. Bachmann purchased 15,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was acquired at an average cost of $12.27 per share, with a total value of $184,050.00. Following the purchase, the director now owns 1,631,048 shares of the company’s stock, valued at approximately $20,012,958.96. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,113,700 shares of company stock valued at $26,612,360 over the last three months. 37.50% of the stock is currently owned by company insiders.
Enterprise Products Partners Company Profile
Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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