Enterprise Products Partners L.P. $EPD Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 17.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 84,610 shares of the oil and gas producer’s stock after selling 17,729 shares during the period. Bessemer Group Inc.’s holdings in Enterprise Products Partners were worth $2,646,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in EPD. Savant Capital LLC lifted its position in shares of Enterprise Products Partners by 4.9% in the third quarter. Savant Capital LLC now owns 169,849 shares of the oil and gas producer’s stock valued at $5,311,000 after acquiring an additional 7,957 shares in the last quarter. Hantz Financial Services Inc. raised its stake in Enterprise Products Partners by 80.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,545 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 690 shares during the last quarter. Marco Investment Management LLC lifted its holdings in Enterprise Products Partners by 0.3% in the 3rd quarter. Marco Investment Management LLC now owns 530,691 shares of the oil and gas producer’s stock valued at $16,595,000 after purchasing an additional 1,678 shares in the last quarter. Mission Wealth Management LP boosted its stake in shares of Enterprise Products Partners by 28.2% during the 3rd quarter. Mission Wealth Management LP now owns 32,020 shares of the oil and gas producer’s stock worth $1,001,000 after purchasing an additional 7,036 shares during the last quarter. Finally, Atlantic Union Bankshares Corp grew its holdings in shares of Enterprise Products Partners by 36.4% during the third quarter. Atlantic Union Bankshares Corp now owns 27,877 shares of the oil and gas producer’s stock worth $872,000 after buying an additional 7,439 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EPD shares. Citigroup restated a “buy” rating and set a $39.00 target price (up previously from $36.00) on shares of Enterprise Products Partners in a research report on Wednesday. Scotiabank reissued a “sector perform” rating and set a $37.00 price target (up previously from $35.00) on shares of Enterprise Products Partners in a research note on Thursday. Stifel Nicolaus lifted their price objective on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Barclays reiterated an “overweight” rating and issued a $38.00 target price (up from $35.00) on shares of Enterprise Products Partners in a research note on Wednesday. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research note on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of “Hold” and an average target price of $36.00.

Read Our Latest Stock Report on EPD

Insider Transactions at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction on Monday, December 29th. The shares were bought at an average cost of $32.09 per share, with a total value of $481,350.00. Following the completion of the transaction, the director directly owned 173,586 shares of the company’s stock, valued at $5,570,374.74. This trade represents a 9.46% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 32.60% of the company’s stock.

Enterprise Products Partners News Summary

Here are the key news stories impacting Enterprise Products Partners this week:

Enterprise Products Partners Stock Down 0.4%

Shares of NYSE:EPD opened at $34.93 on Monday. The stock has a 50-day simple moving average of $32.61 and a 200-day simple moving average of $31.87. The stock has a market capitalization of $75.56 billion, a P/E ratio of 13.13, a PEG ratio of 2.46 and a beta of 0.60. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $35.55. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88.

Enterprise Products Partners (NYSE:EPDGet Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.43%. The firm had revenue of $13.79 billion for the quarter, compared to analysts’ expectations of $12.44 billion. During the same period in the previous year, the company posted $0.74 earnings per share. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. Equities analysts forecast 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 will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a dividend of $0.55 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, January 30th. This represents a $2.20 dividend on an annualized basis and a yield of 6.3%. Enterprise Products Partners’s dividend payout ratio is currently 82.71%.

Enterprise Products Partners declared that its board has approved a stock repurchase program on Thursday, October 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas producer to purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Enterprise Products Partners Profile

(Free Report)

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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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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