Nuveen LLC Buys New Shares in Enterprise Products Partners L.P. $EPD

Key Points

• Nuveen LLC has invested approximately $22.28 million in Enterprise Products Partners L.P., acquiring 652,732 shares of the company.
• Enterprise Products Partners has increased its quarterly dividend to $0.545, representing an annualized yield of 6.9%.
• Despite a revenue decline of 15.7% year-over-year, the company reported earnings of $0.66 EPS, slightly below analyst expectations.

Nuveen LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 652,732 shares of the oil and gas producer's stock, valued at approximately $22,284,000.

Other institutional investors also recently added to or reduced their stakes in the company. Security National Bank acquired a new position in Enterprise Products Partners during the first quarter worth approximately $30,000. Alpine Bank Wealth Management acquired a new position in shares of Enterprise Products Partners in the first quarter valued at approximately $31,000. N.E.W. Advisory Services LLC acquired a new position in shares of Enterprise Products Partners in the first quarter valued at approximately $34,000. Colonial Trust Co SC increased its holdings in shares of Enterprise Products Partners by 44.9% in the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 314 shares during the period. Finally, North Capital Inc. acquired a new position in shares of Enterprise Products Partners in the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EPD. TD Cowen began coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 target price on the stock. Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Barclays decreased their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Finally, Scotiabank lifted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research note on Thursday, June 5th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.25.

Insiders Place Their Bets

In related news, Director William C. Montgomery purchased 16,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $31.55 per share, with a total value of $504,800.00. Following the completion of the acquisition, the director directly owned 136,920 shares in the company, valued at $4,319,826. The trade was a 13.23% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John R. Rutherford purchased 15,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was bought at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the acquisition, the director owned 158,586 shares of the company's stock, valued at approximately $4,971,671.10. The trade was a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 32.60% of the company's stock.

Enterprise Products Partners Price Performance

EPD traded up $0.0950 during trading on Wednesday, reaching $31.5050. 2,356,782 shares of the stock were exchanged, compared to its average volume of 4,739,221. The business's 50 day moving average price is $31.39 and its two-hundred day moving average price is $31.84. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The company has a market capitalization of $68.22 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 1.81 and a beta of 0.66. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm had revenue of $11.36 billion for the quarter, compared to analysts' expectations of $15.24 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The firm's revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, July 31st. Enterprise Products Partners's payout ratio is presently 81.04%.

About Enterprise Products Partners

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.