Jennison Associates LLC Has $24.86 Million Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Jennison Associates LLC grew its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 13.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 728,100 shares of the oil and gas producer's stock after buying an additional 87,398 shares during the period. Jennison Associates LLC's holdings in Enterprise Products Partners were worth $24,857,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in EPD. Alps Advisors Inc. lifted its position in shares of Enterprise Products Partners by 5.0% during 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 during the last quarter. Invesco Ltd. lifted its position in shares of Enterprise Products Partners by 1.3% during the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer's stock worth $849,126,000 after purchasing an additional 359,288 shares during the last quarter. FMR LLC lifted its position in shares of Enterprise Products Partners by 2.1% during the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer's stock worth $462,067,000 after purchasing an additional 304,997 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock worth $330,739,000 after purchasing an additional 851,188 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in shares of Enterprise Products Partners by 11.1% during the 4th quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer's stock worth $182,832,000 after purchasing an additional 580,850 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on EPD. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an "outperform" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. boosted their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Royal Bank Of Canada restated an "outperform" rating and set a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Citigroup lowered their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, TD Cowen began coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a "hold" rating and a $33.00 price target on the stock. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.36.

Enterprise Products Partners Stock Up 0.4%

NYSE:EPD opened at $31.37 on Friday. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $68.04 billion, a P/E ratio of 11.75, a P/E/G ratio of 1.81 and a beta of 0.64. The stock's fifty day simple moving average is $31.50 and its 200-day simple moving average is $32.10.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.95%. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 31st. Enterprise Products Partners's payout ratio is 81.65%.

Enterprise Products Partners Company 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.

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