Heronetta Management L.P. Has $15.92 Million Position in Enterprise Products Partners L.P. $EPD

Key Points

• Heronetta Management cut its stake in Enterprise Products Partners by 9.6% in the fourth quarter, but the position was still worth about $15.9 million and remained its second-largest holding.
• CEO Aj Teague bought 2,665 shares at $37.55 each, increasing his ownership by 3.56%; insiders now own 32.6% of 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 declared a quarterly dividend of $0.55 per share, implying a 5.8% yield.

Heronetta Management L.P. trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 9.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 496,448 shares of the oil and gas producer's stock after selling 52,800 shares during the period. Enterprise Products Partners accounts for 10.5% of Heronetta Management L.P.'s investment portfolio, making the stock its 2nd biggest position. Heronetta Management L.P.'s holdings in Enterprise Products Partners were worth $15,916,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of EPD. PMV Capital Advisers LLC bought a new position in Enterprise Products Partners in the 4th quarter valued at $25,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners in the 3rd quarter valued at $31,000. Abich Financial Wealth Management LLC bought a new position in Enterprise Products Partners in the 3rd quarter valued at $32,000. Texas Capital Bancshares Inc TX bought a new position in Enterprise Products Partners in the 3rd quarter valued at $32,000. Finally, Daytona Street Capital LLC bought a new position in Enterprise Products Partners in the 4th quarter valued at $42,000. 26.07% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Aj Teague acquired 2,665 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer owned 77,576 shares of the company's stock, valued at $2,912,978.80. The trade was a 3.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 32.60% of the company's stock.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research analyst reports. TD Cowen reaffirmed a "hold" rating and set a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $35.00 to $39.00 and gave the stock a "neutral" rating in a report on Tuesday, March 10th. Jefferies Financial Group lifted their price objective on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a "hold" rating in a report on Tuesday, March 31st. Wolfe Research raised shares of Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enterprise Products Partners in a report on Thursday, January 22nd. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $38.93.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock 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 company has a market capitalization of $82.03 billion, a PE ratio of 14.05, a P/E/G ratio of 1.40 and a beta of 0.52. The firm has a fifty day simple moving average of $37.67 and a two-hundred day simple moving average of $34.52. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $39.74.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). The business 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 business's revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. Research analysts expect that Enterprise Products Partners L.P. will post 2.92 EPS for the current year.

Enterprise Products Partners Announces Dividend

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

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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