Longfellow Investment Management Co. LLC Increases Stock Holdings in Enterprise Products Partners L.P. $EPD

Key Points

• Longfellow Investment Management increased its stake in Enterprise Products Partners by 4.1% in the fourth quarter, making EPD its largest holding at about $50.9 million.
• Enterprise Products Partners reported quarterly earnings of $0.68 per share, missing analyst estimates, though revenue of $14.39 billion came in above expectations.
• The partnership declared a $0.55 quarterly dividend, equal to an annualized yield of about 5.8%, while analysts currently have a consensus rating of Hold with an average target price of $39.67.

Longfellow Investment Management Co. LLC grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,587,296 shares of the oil and gas producer's stock after buying an additional 62,982 shares during the period. Enterprise Products Partners accounts for approximately 11.5% of Longfellow Investment Management Co. LLC's holdings, making the stock its biggest position. Longfellow Investment Management Co. LLC owned 0.07% of Enterprise Products Partners worth $50,889,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EPD. Brighton Jones LLC boosted its stake in Enterprise Products Partners by 19.9% in the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock worth $1,023,000 after purchasing an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. boosted its stake in Enterprise Products Partners by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer's stock worth $1,827,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in Enterprise Products Partners by 6.2% in the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer's stock worth $1,975,000 after purchasing an additional 3,742 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Enterprise Products Partners by 6.1% in the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer's stock worth $847,000 after purchasing an additional 1,578 shares in the last quarter. Finally, Glenview Trust co boosted its stake in Enterprise Products Partners by 315.8% in the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer's stock worth $1,043,000 after purchasing an additional 25,555 shares in the last quarter. Institutional investors own 26.07% of the company's stock.

Insiders Place Their Bets

In other Enterprise Products Partners news, CEO Aj Teague purchased 2,665 shares of the company's stock in a transaction on Friday, March 20th. The stock was acquired at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the purchase, the chief executive officer directly owned 77,576 shares of the company's stock, valued at $2,912,978.80. This trade represents a 3.56% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 32.60% of the stock is owned by insiders.

Enterprise Products Partners Trading Down 1.0%

Enterprise Products Partners stock opened at $37.80 on Friday. The firm has a 50 day moving average of $38.11 and a 200 day moving average of $35.48. The firm has a market capitalization of $81.72 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 1.35 and a beta of 0.49. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released 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). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm had revenue of $14.39 billion during the quarter, compared to analysts' expectations of $13.62 billion. During the same period in the prior year, the company posted $0.64 earnings per share. The company's revenue was down 6.7% compared to the same quarter last year. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 5.8%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners's dividend payout ratio is presently 81.48%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EPD. Wolfe Research upgraded shares of Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. upped their price target on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 12th. Royal Bank Of Canada boosted their target price 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. UBS Group reissued a "buy" rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Finally, TD Cowen reaffirmed a "hold" rating and set a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $39.67.

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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