Bollard Group LLC Sells 255,786 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• Bollard Group LLC reduced its stake in Enterprise Products Partners by 13.6% in the fourth quarter, selling 255,786 shares and leaving it with 1,625,178 shares worth about $52.1 million.
• Enterprise Products Partners reported quarterly EPS of $0.68, missing analyst expectations of $0.71, even though revenue came in above estimates at $14.39 billion.
• The company paid a quarterly dividend of $0.55 per share, equal to an annualized yield of about 5.9%, while analysts currently rate the stock a consensus Hold with a $39.67 price target.

Bollard Group LLC trimmed its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 13.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,625,178 shares of the oil and gas producer's stock after selling 255,786 shares during the quarter. Enterprise Products Partners comprises 1.3% of Bollard Group LLC's portfolio, making the stock its 10th largest position. Bollard Group LLC owned approximately 0.08% of Enterprise Products Partners worth $52,103,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Alps Advisors Inc. raised its position in shares of Enterprise Products Partners by 0.6% during the 4th quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer's stock worth $1,367,011,000 after purchasing an additional 260,305 shares during the period. Morgan Stanley raised its position in shares of Enterprise Products Partners by 4.8% during the 4th quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer's stock worth $612,870,000 after purchasing an additional 883,983 shares during the period. Goldman Sachs Group Inc. grew its holdings in Enterprise Products Partners by 12.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer's stock worth $582,317,000 after buying an additional 1,940,583 shares in the last quarter. Energy Income Partners LLC grew its holdings in Enterprise Products Partners by 0.6% in the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer's stock worth $459,829,000 after buying an additional 80,884 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Enterprise Products Partners by 1.9% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,570,499 shares of the oil and gas producer's stock worth $361,810,000 after buying an additional 214,995 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $37.29 on Friday. The stock has a fifty day moving average price of $38.00 and a two-hundred day moving average price of $35.67. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The firm has a market cap of $80.60 billion, a P/E ratio of 13.81, a PEG ratio of 1.33 and a beta of 0.49. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued 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 firm had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business's revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share. Research analysts forecast that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were paid 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 of this dividend was Thursday, April 30th. Enterprise Products Partners's dividend payout ratio (DPR) is presently 81.48%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Truist Financial increased their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a report on Monday, May 4th. Weiss Ratings lowered Enterprise Products Partners from a "buy (b+)" rating to a "buy (b)" rating in a report on Thursday, May 21st. Wolfe Research raised Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Scotiabank reissued a "sector perform" rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Finally, Wells Fargo & Company raised Enterprise Products Partners from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, March 25th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $39.67.

Insider Transactions at Enterprise Products Partners

In other news, CEO Aj Teague purchased 2,665 shares of the firm's stock in a transaction on Friday, March 20th. The stock was purchased at an average cost of $37.55 per share, with a total value of $100,070.75. Following the purchase, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. This trade represents a 3.56% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 32.60% of the company's stock.

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.

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