Vestmark Advisory Solutions Inc. Boosts Stake in Enterprise Products Partners L.P. $EPD

Key Points

• Vestmark Advisory Solutions Inc. sharply increased its position in Enterprise Products Partners, boosting its stake by 5,743.2% in the fourth quarter to 1,019,056 shares valued at about $32.7 million.
• Enterprise Products Partners reported quarterly EPS of $0.68, slightly below estimates, while revenue came in at $14.39 billion, above expectations but down 6.7% from a year earlier.
• The company continues to offer an attractive dividend, recently paying $0.55 per share quarterly for an annualized yield of 5.6%, and analysts currently have an average Hold rating with a $39.67 price target.

Vestmark Advisory Solutions Inc. increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 5,743.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,019,056 shares of the oil and gas producer's stock after purchasing an additional 1,001,616 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Enterprise Products Partners were worth $32,671,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. PMV Capital Advisers LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $25,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $31,000. Abich Financial Wealth Management LLC purchased a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $32,000. Texas Capital Bancshares Inc TX purchased a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $32,000. Finally, Daytona Street Capital LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

Insider Activity

In other news, CEO Aj Teague acquired 2,665 shares of the firm's stock in a transaction dated Friday, March 20th. The stock was acquired at an average cost of $37.55 per share, with a total value of $100,070.75. Following the transaction, the chief executive officer owned 77,576 shares in the company, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 32.60% of the company's stock.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $39.48 on Friday. The stock has a market cap of $85.34 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.46 and a beta of 0.52. The company has a fifty day simple moving average of $38.01 and a 200-day simple moving average of $34.98. 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 quarterly earnings data 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). The firm had revenue of $14.39 billion for the quarter, compared to analysts' expectations of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.Enterprise Products Partners's revenue for the quarter was down 6.7% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. Equities analysts expect that Enterprise Products Partners L.P. will post 2.95 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on EPD shares. Truist Financial increased their price objective on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. Royal Bank Of Canada raised their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an "outperform" rating in a research report on Monday, March 30th. Barclays raised their price target on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, March 5th. Wells Fargo & Company raised shares of Enterprise Products Partners from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $40.00 to $42.00 in a research report on Wednesday, March 25th. Finally, Citigroup reissued a "buy" rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently 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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