BNP Paribas Financial Markets Boosts Stake in Enterprise Products Partners L.P. $EPD

Key Points

• BNP Paribas Financial Markets increased its stake in Enterprise Products Partners by 21.3% in the fourth quarter, buying 712,647 additional shares and bringing its total holding to 4,053,797 shares worth about $130 million.
• Enterprise Products Partners reported mixed quarterly results, posting EPS of $0.68 versus the $0.71 estimate while revenue came in above expectations at $14.39 billion, though sales were down 6.7% year over year.
• The partnership continues to offer a high dividend yield, recently paying a quarterly dividend of $0.55 per share, or $2.20 annualized, for a yield of about 6.0%.

BNP Paribas Financial Markets raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 21.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,053,797 shares of the oil and gas producer's stock after purchasing an additional 712,647 shares during the quarter. BNP Paribas Financial Markets owned 0.19% of Enterprise Products Partners worth $129,965,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PMV Capital Advisers LLC purchased a new stake in Enterprise Products Partners in the fourth quarter valued at $25,000. Palisade Asset Management LLC purchased a new stake in Enterprise Products Partners in the third quarter valued at $31,000. Abich Financial Wealth Management LLC purchased a new stake in Enterprise Products Partners in the third quarter valued at $32,000. Texas Capital Bancshares Inc TX purchased a new stake in Enterprise Products Partners in the third quarter valued at $32,000. Finally, Daytona Street Capital LLC purchased a new stake in Enterprise Products Partners in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Trading Up 0.0%

EPD opened at $36.80 on Monday. The stock has a market capitalization of $79.55 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.31 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The business has a fifty day moving average price of $38.15 and a 200 day moving average price of $35.29. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly 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). The business had revenue of $14.39 billion for the quarter, compared to analysts' expectations of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm's quarterly revenue was down 6.7% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared 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 6.0%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners's payout ratio is 81.48%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on EPD. Wolfe Research raised Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 21st. TD Cowen reaffirmed a "hold" rating and issued a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $39.00 price objective on shares of Enterprise Products Partners in a research note on Thursday, May 14th. Wells Fargo & Company raised Enterprise Products Partners from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, March 25th. Finally, Morgan Stanley reaffirmed an "underweight" rating and issued a $43.00 price objective (up from $42.00) on shares of Enterprise Products Partners in a research note on Wednesday, May 20th. 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. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of "Hold" and an average price target of $39.67.

Insider Buying and Selling at Enterprise Products Partners

In other news, CEO Aj Teague bought 2,665 shares of Enterprise Products Partners stock in a transaction dated Friday, March 20th. The stock was acquired at an average cost of $37.55 per share, with a total value of $100,070.75. Following the acquisition, the chief executive officer owned 77,576 shares of the company's stock, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 32.60% of the company's stock.

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.

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