BROOKFIELD Corp ON Grows Stock Holdings in Enterprise Products Partners L.P. $EPD

Key Points

• BROOKFIELD Corp ON increased its stock holdings in Enterprise Products Partners L.P. by 2.8%, owning approximately 4.7 million shares valued at $160.4 million, making it their 19th largest position.
• Enterprise Products Partners reported a quarterly earnings miss with earnings per share of $0.66 compared to analysts' expectations of $0.67, along with a revenue decrease of 15.7% year-over-year.
• The company recently raised its quarterly dividend to $0.545 per share, yielding 6.8% annualized and reflecting a payout ratio of 81.04%.

BROOKFIELD Corp ON grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 2.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,698,769 shares of the oil and gas producer's stock after purchasing an additional 128,545 shares during the period. Enterprise Products Partners makes up approximately 0.9% of BROOKFIELD Corp ON's holdings, making the stock its 19th largest position. BROOKFIELD Corp ON owned approximately 0.22% of Enterprise Products Partners worth $160,416,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Diversified Trust Co lifted its holdings in shares of Enterprise Products Partners by 13.7% during the first quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer's stock valued at $516,000 after purchasing an additional 1,821 shares during the last quarter. Aurora Private Wealth Inc. lifted its holdings in shares of Enterprise Products Partners by 3,044.1% during the first quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer's stock valued at $6,853,000 after purchasing an additional 194,336 shares during the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in shares of Enterprise Products Partners by 20.0% during the first quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer's stock valued at $4,553,000 after purchasing an additional 22,202 shares during the last quarter. Forbes J M & Co. LLP purchased a new position in shares of Enterprise Products Partners during the first quarter valued at approximately $290,000. Finally, Nuveen LLC purchased a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $22,284,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Up 0.9%

Shares of Enterprise Products Partners stock opened at $31.93 on Friday. The company has a market cap of $69.14 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 1.98 and a beta of 0.69. The company's 50 day moving average is $31.55 and its 200 day moving average is $31.67. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter last year, the company earned $0.64 EPS. The firm's revenue for the quarter was down 15.7% on a year-over-year basis. 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 disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were issued a $0.545 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a dividend yield of 6.8%. Enterprise Products Partners's dividend payout ratio is presently 81.04%.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director William C. Montgomery acquired 16,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average price 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 of the company's stock, valued at approximately $4,319,826. The trade was a 13.23% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John R. Rutherford acquired 15,000 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average cost of $31.35 per share, with a total value of $470,250.00. Following the acquisition, the director directly owned 158,586 shares of the company's stock, valued at $4,971,671.10. This trade represents 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.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays cut their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Scotiabank lifted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Thursday, June 5th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an "outperform" rating in a report on Friday, July 11th. TD Cowen started coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 target price for the company. Finally, Morgan Stanley reduced their target price on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating for the company in a report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of "Moderate Buy" and an average target price of $35.83.

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.

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