Enterprise Products Partners L.P. $EPD Shares Acquired by Americana Partners LLC

Key Points

• Americana Partners LLC boosted its stake in Enterprise Products Partners by 10% in the fourth quarter, buying 203,832 more shares and bringing its total holding to 2.25 million shares worth about $72.1 million.
• Wall Street remains mixed on EPD: analysts have an average “Hold” rating with an average price target of $39.67, though several firms recently raised targets and Wells Fargo upgraded the stock to overweight.
• Enterprise Products Partners reported quarterly EPS of $0.68, missing estimates, but revenue came in above expectations at $14.39 billion; the company also paid a quarterly dividend of $0.55 per share, implying a 5.6% annual yield.

Americana Partners LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 10.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,247,462 shares of the oil and gas producer's stock after purchasing an additional 203,832 shares during the quarter. Enterprise Products Partners makes up approximately 2.0% of Americana Partners LLC's holdings, making the stock its 6th biggest holding. Americana Partners LLC owned approximately 0.10% of Enterprise Products Partners worth $72,054,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EPD. PMV Capital Advisers LLC acquired a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $25,000. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners during the third quarter valued at approximately $31,000. Texas Capital Bancshares Inc TX acquired a new position in Enterprise Products Partners in the third quarter valued at about $32,000. Abich Financial Wealth Management LLC acquired a new position in Enterprise Products Partners in the third quarter valued at about $32,000. Finally, Daytona Street Capital LLC acquired a new position in shares of Enterprise Products Partners in the fourth quarter valued at approximately $42,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EPD shares. JPMorgan Chase & Co. upped their price objective on Enterprise Products Partners from $40.00 to $41.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 12th. Truist Financial increased their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a "hold" rating in a research note on Monday, May 4th. The Goldman Sachs Group restated a "neutral" rating and set a $39.00 target price on shares of Enterprise Products Partners in a research note on Thursday, May 14th. Wells Fargo & Company upgraded Enterprise Products Partners from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $40.00 to $42.00 in a research note on Wednesday, March 25th. Finally, Scotiabank reiterated a "sector perform" rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. 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 MarketBeat.com, Enterprise Products Partners has an average rating of "Hold" and an average price target of $39.67.

Enterprise Products Partners Trading Up 0.2%

Shares of Enterprise Products Partners stock opened at $39.55 on Friday. The stock has a market capitalization of $85.49 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The stock has a 50 day moving average price of $38.05 and a two-hundred day moving average price of $35.01. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm's quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.95 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were given a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 annualized dividend and a yield of 5.6%. Enterprise Products Partners's payout ratio is currently 81.48%.

Insiders Place Their Bets

In related news, CEO Aj Teague bought 2,665 shares of the company's stock in a transaction on Friday, March 20th. The shares were purchased at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the purchase, the chief executive officer directly owned 77,576 shares in the company, valued at $2,912,978.80. The trade was a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 32.60% of the stock is currently owned by insiders.

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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