Alps Advisors Inc. Purchases 260,305 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• Alps Advisors Inc. increased its stake in Enterprise Products Partners by 0.6% in the fourth quarter, buying 260,305 more shares. The firm now holds 42.64 million shares, making EPD its third-largest position and about 8% of its portfolio.
• Several analysts recently adjusted their outlooks, with price targets mostly clustered around the $38 to $42 range. Overall, the stock carries an average rating of "Hold" and an average price target of $39.67.
• Enterprise Products Partners reported Q1 earnings of $0.68 per share, below estimates, though revenue of $14.39 billion topped expectations. The company also paid a quarterly dividend of $0.55 per share, implying an annualized yield of 5.9%.

Alps Advisors Inc. increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,639,131 shares of the oil and gas producer's stock after buying an additional 260,305 shares during the quarter. Enterprise Products Partners accounts for 8.0% of Alps Advisors Inc.'s portfolio, making the stock its 3rd biggest holding. Alps Advisors Inc. owned approximately 1.97% of Enterprise Products Partners worth $1,367,011,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EPD. Brighton Jones LLC boosted its stake in shares of Enterprise Products Partners by 19.9% in the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock valued at $1,023,000 after purchasing an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. boosted its stake in shares of Enterprise Products Partners by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer's stock valued at $1,827,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Enterprise Products Partners by 6.2% in the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer's stock valued at $1,975,000 after purchasing an additional 3,742 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of Enterprise Products Partners by 6.1% in the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer's stock valued at $847,000 after purchasing an additional 1,578 shares in the last quarter. Finally, Glenview Trust co boosted its stake in shares of Enterprise Products Partners by 315.8% in the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer's stock valued at $1,043,000 after purchasing an additional 25,555 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on EPD. Stifel Nicolaus increased their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Truist Financial increased their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. Scotiabank restated a "sector perform" rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. TD Cowen restated a "hold" rating and set a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Finally, Wall Street Zen lowered Enterprise Products Partners from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $39.67.

Enterprise Products Partners Price Performance

EPD opened at $37.29 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The company has a fifty day simple moving average of $38.01 and a 200 day simple moving average of $35.66. The stock has a market cap of $80.62 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.35 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter in the prior year, the company earned $0.64 EPS. Enterprise Products Partners's quarterly revenue was down 6.7% on a year-over-year basis. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners's dividend payout ratio is 81.48%.

Insider Transactions at Enterprise Products Partners

In other news, CEO Aj Teague bought 2,665 shares of the stock in a transaction on Friday, March 20th. The stock was purchased at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the acquisition, the chief executive officer owned 77,576 shares in the company, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 32.60% of the company's stock.

Enterprise Products Partners Company 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.

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