Enterprise Products Partners L.P. $EPD Position Raised by Auto Owners Insurance Co

Auto Owners Insurance Co lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 3,106.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,060,000 shares of the oil and gas producer’s stock after purchasing an additional 31,060,000 shares during the quarter. Auto Owners Insurance Co’s holdings in Enterprise Products Partners were worth $102,784,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. CIBC Bancorp USA Inc. acquired a new stake in shares of Enterprise Products Partners in the third quarter valued at $292,194,000. Goldman Sachs Group Inc. raised its position in Enterprise Products Partners by 12.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after acquiring an additional 1,940,583 shares in the last quarter. Corient Private Wealth LLC raised its position in Enterprise Products Partners by 119.4% in the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock worth $74,859,000 after acquiring an additional 1,313,976 shares in the last quarter. Barclays PLC lifted its holdings in Enterprise Products Partners by 57.5% in the 4th quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock valued at $93,874,000 after acquiring an additional 1,069,304 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its holdings in Enterprise Products Partners by 5,743.2% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 1,019,056 shares of the oil and gas producer’s stock valued at $32,671,000 after acquiring an additional 1,001,616 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on EPD shares. 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 note on Friday, May 1st. Truist Financial lifted their target price 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. Barclays boosted their price target on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday. Finally, TD Cowen reaffirmed a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $39.94.

Enterprise Products Partners Price Performance

NYSE EPD opened at $36.60 on Friday. The stock has a market cap of $79.12 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.30 and a beta of 0.49. The business has a 50 day simple moving average of $37.87 and a 200 day simple moving average of $35.81. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results 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). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business 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 firm posted $0.64 earnings per share. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. Analysts anticipate that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Enterprise Products Partners 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.