Northwestern Mutual Wealth Management Co. Grows Stock Position in Enterprise Products Partners L.P. $EPD

Key Points

• Northwestern Mutual Wealth Management Co. boosted its stake in Enterprise Products Partners by 57.5% in the fourth quarter, ending with 464,128 shares valued at about $14.9 million.
• Enterprise Products Partners reported quarterly EPS of $0.68, missing estimates, but revenue came in above expectations at $14.39 billion.
• The partnership declared a quarterly dividend of $0.55 per share, equal to an annualized yield of 5.6%, while analysts currently rate the stock a consensus Hold with an average price target of $39.67.

Northwestern Mutual Wealth Management Co. increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 57.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 464,128 shares of the oil and gas producer's stock after buying an additional 169,535 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Enterprise Products Partners were worth $14,880,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Miller Howard Investments Inc. NY raised its position 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 purchasing an additional 31,733 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Enterprise Products Partners by 3.0% during the third quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer's stock worth $39,153,000 after acquiring an additional 36,339 shares during the period. Advisors Asset Management Inc. increased its position in shares of Enterprise Products Partners by 20.2% during the third quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer's stock worth $7,189,000 after acquiring an additional 38,660 shares during the period. Victory Capital Management Inc. raised its stake in shares of Enterprise Products Partners by 70.6% in the third quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer's stock valued at $46,765,000 after acquiring an additional 619,014 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Enterprise Products Partners by 8.6% in the third quarter. Thrivent Financial for Lutherans now owns 4,182,229 shares of the oil and gas producer's stock valued at $130,778,000 after acquiring an additional 331,066 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $39.41 on Thursday. The firm has a market capitalization of $85.19 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 1.48 and a beta of 0.52. The business's fifty day moving average price is $37.95 and its 200 day moving average price is $34.91. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS 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 analysts' expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business's quarterly revenue was down 6.7% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.95 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners's dividend payout ratio is 81.48%.

Insider Activity at Enterprise Products Partners

In related news, CEO Aj Teague bought 2,665 shares of the company's stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average cost of $37.55 per share, with a total value of $100,070.75. Following the transaction, the chief executive officer directly owned 77,576 shares of the company's stock, valued at approximately $2,912,978.80. This represents a 3.56% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 32.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on EPD shares. Scotiabank reiterated a "sector perform" rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Wall Street Zen cut Enterprise Products Partners from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Citigroup reiterated a "buy" rating and issued a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Truist Financial increased their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the company a "hold" rating in a research note on Monday, May 4th. Finally, TD Cowen reiterated a "hold" rating and issued a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target 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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