Kercheville Advisors LLC Makes New $1.35 Million Investment in Enterprise Products Partners L.P. $EPD

Key Points

• Kercheville Advisors LLC established a new position in Enterprise Products Partners (NYSE:EPD), buying 40,700 shares in Q4 valued at approximately $1.35 million.
• CEO Aj Teague bought 2,665 shares on March 20 (about $100,071), bringing his holdings to 77,576 shares, and corporate insiders now own roughly 32.6% of the company.
• Enterprise beat quarterly estimates with EPS of $0.75 (vs. $0.69 expected) and revenue of $13.79 billion, and announced a quarterly dividend of $0.55 per share (annualized yield ~5.8%, ex-dividend April 30, payable May 14).

Kercheville Advisors LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 40,700 shares of the oil and gas producer's stock, valued at approximately $1,351,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tred Avon Family Wealth LLC acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $1,015,000. Tectonic Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 10.0% during the 3rd quarter. Tectonic Advisors LLC now owns 678,769 shares of the oil and gas producer's stock worth $21,225,000 after purchasing an additional 61,669 shares during the last quarter. Miller Howard Investments Inc. NY lifted its holdings in Enterprise Products Partners by 1.0% in the fourth 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 acquiring an additional 31,733 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Enterprise Products Partners by 3.0% in the third 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 acquiring an additional 36,339 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in Enterprise Products Partners by 20.2% in the third quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer's stock valued at $7,189,000 after acquiring an additional 38,660 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Enterprise Products Partners

In related news, CEO Aj Teague acquired 2,665 shares of the business's stock in a transaction dated Friday, March 20th. The shares were acquired at an average price of $37.55 per share, with a total value 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 32.60% of the company's stock.

Enterprise Products Partners Stock Up 0.4%

Shares of NYSE EPD opened at $38.00 on Friday. The firm has a market cap of $82.16 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.44 and a beta of 0.55. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. Enterprise Products Partners L.P. has a 52-week low of $29.66 and a 52-week high of $39.74. The business's 50 day moving average is $37.35 and its two-hundred day moving average is $34.02.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.06. The company had revenue of $13.79 billion for the quarter, compared to analyst estimates of $12.44 billion. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The firm's quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 earnings per share. Research analysts predict that Enterprise Products Partners L.P. will post 2.88 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend 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 dividend payout ratio is currently 82.71%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wolfe Research upgraded Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on Enterprise Products Partners from $35.00 to $39.00 and gave the company a "neutral" rating in a report on Tuesday, March 10th. Wells Fargo & Company upgraded Enterprise Products Partners from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $40.00 to $42.00 in a report on Wednesday, March 25th. Jefferies Financial Group upped their price objective on Enterprise Products Partners from $34.00 to $40.00 and gave the company a "hold" rating in a report on Tuesday, March 31st. Finally, Stifel Nicolaus boosted their target price on Enterprise Products Partners from $38.00 to $41.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of "Moderate Buy" and an average target price of $38.27.

About Enterprise Products Partners

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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