Whittier Trust Co. reduced its position in Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 11.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,859 shares of the oil and gas producer’s stock after selling 3,459 shares during the period. Whittier Trust Co.’s holdings in Enterprise Products Partners were worth $648,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its position in Enterprise Products Partners by 4.7% in the 1st quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock worth $646,548,000 after purchasing an additional 1,114,690 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Enterprise Products Partners by 1.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 19,014,357 shares of the oil and gas producer’s stock valued at $452,162,000 after acquiring an additional 276,360 shares during the last quarter. Energy Income Partners LLC increased its holdings in shares of Enterprise Products Partners by 6.3% during the 3rd quarter. Energy Income Partners LLC now owns 14,701,701 shares of the oil and gas producer’s stock valued at $349,607,000 after acquiring an additional 871,211 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Enterprise Products Partners by 12.5% during the 1st quarter. Clearbridge Investments LLC now owns 11,888,708 shares of the oil and gas producer’s stock valued at $306,848,000 after acquiring an additional 1,323,267 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. increased its holdings in shares of Enterprise Products Partners by 0.8% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 10,734,290 shares of the oil and gas producer’s stock valued at $255,261,000 after acquiring an additional 86,078 shares during the last quarter. 26.54% of the stock is owned by institutional investors and hedge funds.
Enterprise Products Partners Price Performance
Shares of EPD stock opened at $26.38 on Friday. The stock has a 50 day moving average of $25.83 and a two-hundred day moving average of $25.12. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.96. Enterprise Products Partners L.P. has a 12 month low of $22.90 and a 12 month high of $28.65. The company has a market capitalization of $57.27 billion, a P/E ratio of 10.55 and a beta of 1.09.
Enterprise Products Partners Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, May 12th. Investors of record on Friday, April 28th will be given a dividend of $0.49 per share. The ex-dividend date is Thursday, April 27th. This represents a $1.96 annualized dividend and a dividend yield of 7.43%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.40%.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Mizuho reissued a “buy” rating and set a $32.00 price objective on shares of Enterprise Products Partners in a report on Thursday, March 30th. Scotiabank initiated coverage on Enterprise Products Partners in a research note on Thursday, March 2nd. They set a “sector outperform” rating and a $31.00 target price for the company. StockNews.com initiated coverage on Enterprise Products Partners in a research note on Thursday, March 16th. They set a “buy” rating for the company. Wolfe Research upgraded Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $27.00 target price for the company in a research note on Monday, January 9th. Finally, Citigroup initiated coverage on Enterprise Products Partners in a research note on Thursday, December 8th. They set a “buy” rating and a $31.00 target price for the company. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.83.
Insider Buying and Selling
In related news, CEO Aj Teague bought 11,950 shares of the business’s stock in a transaction that occurred on Monday, March 20th. The stock was acquired at an average price of $25.15 per share, for a total transaction of $300,542.50. Following the transaction, the chief executive officer now directly owns 2,491,895 shares of the company’s stock, valued at $62,671,159.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 32.60% of the stock is owned by corporate insiders.
About Enterprise Products Partners
Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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