MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stake in Enterprise Products Partners L.P. $EPD

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Enterprise Products Partners L.P. by 4.3%, now holding approximately 11 million shares worth around $375.66 million.
• Enterprise Products Partners declared a quarterly dividend of $0.545 per share, marking an increase from the previous quarter's dividend, with an annual yield of 6.9%.
• The company's recent earnings report showed a miss on EPS estimates with $0.66 reported versus the expected $0.67, and a 15.7% decline in revenue year-over-year.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,003,573 shares of the oil and gas producer's stock after purchasing an additional 457,045 shares during the quarter. Enterprise Products Partners accounts for approximately 0.9% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings, making the stock its 13th biggest holding. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.51% of Enterprise Products Partners worth $375,662,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Diversified Trust Co grew its stake in Enterprise Products Partners by 13.7% in the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer's stock worth $516,000 after acquiring an additional 1,821 shares in the last quarter. Aurora Private Wealth Inc. grew its stake in Enterprise Products Partners by 3,044.1% in the 1st quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer's stock worth $6,853,000 after acquiring an additional 194,336 shares in the last quarter. Cyndeo Wealth Partners LLC grew its stake in Enterprise Products Partners by 20.0% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer's stock worth $4,553,000 after acquiring an additional 22,202 shares in the last quarter. Forbes J M & Co. LLP bought a new position in Enterprise Products Partners in the 1st quarter worth about $290,000. Finally, Investor s Fiduciary Advisor Network LLC bought a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $1,146,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Down 0.1%

EPD opened at $31.82 on Friday. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The company has a fifty day moving average of $31.51 and a two-hundred day moving average of $31.74. The stock has a market capitalization of $68.89 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.99 and a beta of 0.69.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm had revenue of $11.36 billion during the quarter, compared to analysts' expectations of $15.24 billion. During the same period in the previous year, the firm posted $0.64 EPS. The firm's quarterly revenue was down 15.7% on a year-over-year basis. On average, 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 firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a dividend of $0.545 per share. The ex-dividend date was Thursday, July 31st. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 81.04%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on EPD shares. Wall Street Zen upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Morgan Stanley dropped their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 26th. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the company an "outperform" rating in a research note on Friday, July 11th. Barclays lowered their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research note on Wednesday, July 2nd. Finally, Scotiabank raised their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research note on Thursday, June 5th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of "Moderate Buy" and an average price target of $35.83.

Insider Transactions at Enterprise Products Partners

In other news, Director John R. Rutherford bought 15,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were bought at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director directly owned 158,586 shares of the company's stock, valued at $4,971,671.10. This trade represents a 10.45% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William C. Montgomery bought 16,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was purchased at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the acquisition, the director directly owned 136,920 shares in the company, valued at $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 32.60% of the company's stock.

About Enterprise Products Partners

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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