Boston Partners Grows Stock Position in Enterprise Products Partners L.P. $EPD

Key Points

• Boston Partners increased its holdings in Enterprise Products Partners L.P. by 5.9%, acquiring an additional 9,853 shares, bringing their total to 175,903 shares valued at approximately $6 million.
• Enterprise Products Partners recently reported quarterly earnings of $0.66 per share, which was slightly below analysts' expectations, alongside a revenue decline of 15.7% year-over-year.
• The company announced a quarterly dividend increase to $0.545 per share, resulting in a dividend yield of 6.9%, which reflects a positive change from its previous dividend payment.

Boston Partners raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 5.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 175,903 shares of the oil and gas producer's stock after buying an additional 9,853 shares during the quarter. Boston Partners' holdings in Enterprise Products Partners were worth $6,005,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. ING Groep NV bought a new position in shares of Enterprise Products Partners during the 1st quarter valued at approximately $71,052,000. Alps Advisors Inc. lifted its holdings in Enterprise Products Partners by 5.0% in the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock worth $1,410,891,000 after purchasing an additional 1,967,188 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Enterprise Products Partners by 65.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer's stock worth $148,415,000 after purchasing an additional 1,717,768 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Enterprise Products Partners by 293.6% during the 1st quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer's stock worth $68,927,000 after acquiring an additional 1,506,055 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Enterprise Products Partners during the 4th quarter worth approximately $36,279,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Trading Down 0.1%

Enterprise Products Partners stock traded down $0.0450 during mid-day trading on Tuesday, hitting $31.2850. The company's stock had a trading volume of 1,741,412 shares, compared to its average volume of 4,746,135. The company has a 50 day moving average of $31.40 and a 200-day moving average of $31.84. The stock has a market cap of $67.74 billion, a PE ratio of 11.63, a P/E/G ratio of 1.82 and a beta of 0.66. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (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 the consensus estimate of $15.24 billion. During the same period in the previous year, the company posted $0.64 EPS. Enterprise Products Partners's quarterly revenue was down 15.7% compared to the same quarter last year. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend was Thursday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio is currently 81.04%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Citigroup decreased their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Stifel Nicolaus decreased their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, July 29th. Argus raised Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the company an "outperform" rating in a research report on Friday, July 11th. Finally, Barclays cut their target price on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of "Moderate Buy" and an average price target of $36.25.

Insiders Place Their Bets

In other news, Director William C. Montgomery purchased 16,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average price of $31.55 per share, with a total value of $504,800.00. Following the transaction, the director owned 136,920 shares of the company's stock, valued at $4,319,826. This represents a 13.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Rutherford acquired 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average price of $31.35 per share, with a total value of $470,250.00. Following the completion of the purchase, the director directly owned 158,586 shares in the company, valued at $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. 32.60% of the stock is currently owned by corporate insiders.

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