First Eagle Investment Management LLC Buys 66,095 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• First Eagle Investment Management increased its stake in Enterprise Products Partners by 3.6% in the fourth quarter, buying 66,095 additional shares and bringing its total holding to 1,915,695 shares valued at about $61.4 million.
• CEO Aj Teague also bought 2,665 shares at $37.55 each, a transaction worth about $100,071, signaling insider confidence in the company.
• Enterprise Products Partners reported quarterly EPS of $0.68, missing estimates, but revenue came in above expectations at $14.39 billion. The company also announced a quarterly dividend of $0.55 per share, implying an annualized yield of about 5.8%.

First Eagle Investment Management LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,915,695 shares of the oil and gas producer's stock after purchasing an additional 66,095 shares during the period. First Eagle Investment Management LLC owned 0.09% of Enterprise Products Partners worth $61,417,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Tred Avon Family Wealth LLC bought a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at about $1,015,000. Miller Howard Investments Inc. NY boosted its stake in shares of Enterprise Products Partners by 1.0% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer's stock valued at $99,775,000 after purchasing an additional 31,733 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Enterprise Products Partners by 3.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer's stock valued at $39,153,000 after purchasing an additional 36,339 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Enterprise Products Partners by 20.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer's stock valued at $7,189,000 after purchasing an additional 38,660 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Enterprise Products Partners by 70.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer's stock valued at $46,765,000 after purchasing an additional 619,014 shares in the last quarter. Institutional investors own 26.07% of the company's stock.

Insider Activity

In other news, CEO Aj Teague bought 2,665 shares of the company's stock in a transaction dated Friday, March 20th. The shares were purchased at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the purchase, the chief executive officer owned 77,576 shares in the company, valued at approximately $2,912,978.80. This represents a 3.56% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 32.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an "underweight" rating and set a $42.00 target price on shares of Enterprise Products Partners in a research note on Tuesday, April 14th. Weiss Ratings reissued a "buy (b)" rating on shares of Enterprise Products Partners in a research note on Thursday, January 22nd. Barclays boosted their price objective on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, March 5th. Royal Bank Of Canada boosted their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an "outperform" rating in a research report on Monday, March 30th. Finally, Truist Financial boosted their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. Nine 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. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of "Hold" and an average price target of $38.93.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $37.95 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. The business's 50 day moving average price is $37.67 and its 200-day moving average price is $34.52. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $39.74. The stock has a market cap of $82.03 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.40 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). The firm had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a return on equity of 19.56% and a net margin of 11.45%.The company's quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 EPS. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Thursday, April 30th. Enterprise Products Partners's dividend payout ratio is currently 81.48%.

Enterprise Products Partners Company 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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