BNP Paribas Financial Markets Boosts Stock Position in Enterprise Products Partners L.P. $EPD

BNP Paribas Financial Markets grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 21.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,053,797 shares of the oil and gas producer’s stock after purchasing an additional 712,647 shares during the period. BNP Paribas Financial Markets’ holdings in Enterprise Products Partners were worth $129,965,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Select Advisors LLC grew its holdings in shares of Enterprise Products Partners by 2.5% in the 4th quarter. Cornerstone Select Advisors LLC now owns 63,730 shares of the oil and gas producer’s stock worth $2,043,000 after acquiring an additional 1,553 shares during the period. Fiducient Advisors LLC grew its holdings in Enterprise Products Partners by 3.2% during the 4th quarter. Fiducient Advisors LLC now owns 77,925 shares of the oil and gas producer’s stock valued at $2,498,000 after buying an additional 2,421 shares during the last quarter. South Street Advisors LLC grew its holdings in Enterprise Products Partners by 2.2% during the 4th quarter. South Street Advisors LLC now owns 24,410 shares of the oil and gas producer’s stock valued at $783,000 after buying an additional 520 shares during the last quarter. Pasadena Private Wealth LLC grew its holdings in Enterprise Products Partners by 138.2% during the 4th quarter. Pasadena Private Wealth LLC now owns 119,400 shares of the oil and gas producer’s stock valued at $3,828,000 after buying an additional 69,264 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Enterprise Products Partners by 6.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 313,260 shares of the oil and gas producer’s stock valued at $10,043,000 after buying an additional 18,667 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Aj Teague bought 2,665 shares of Enterprise Products Partners stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the acquisition, the chief executive officer owned 77,576 shares of the company’s stock, valued at $2,912,978.80. The trade was a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 32.60% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the topic of a number of analyst reports. Wall Street Zen cut Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Truist Financial increased their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 4th. Citigroup reiterated a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Jefferies Financial Group increased their target price on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a report on Tuesday, March 31st. Finally, Royal Bank Of Canada raised their price objective on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $39.67.

Enterprise Products Partners Price Performance

EPD stock opened at $36.80 on Monday. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17. The stock’s fifty day simple moving average is $38.15 and its 200-day simple moving average is $35.29. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $79.55 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 1.31 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. During the same quarter in the previous year, the business posted $0.64 EPS. Enterprise Products Partners’s revenue was down 6.7% compared to the same quarter last year. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company 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. The ex-dividend date was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a yield of 6.0%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.48%.

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.