Bessemer Group Inc. Sells 50,970 Shares of Enterprise Products Partners L.P. $EPD

Bessemer Group Inc. reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 73.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,660 shares of the oil and gas producer’s stock after selling 50,970 shares during the period. Bessemer Group Inc.’s holdings in Enterprise Products Partners were worth $706,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EPD. Brighton Jones LLC lifted its stake in shares of Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after buying an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in Enterprise Products Partners by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock worth $1,827,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Enterprise Products Partners by 6.2% in the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after purchasing an additional 3,742 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in shares of Enterprise Products Partners by 6.1% in the second quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock valued at $847,000 after purchasing an additional 1,578 shares in the last quarter. Finally, Glenview Trust co boosted its position in shares of Enterprise Products Partners by 315.8% during the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock valued at $1,043,000 after buying an additional 25,555 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the subject of several recent research reports. Jefferies Financial Group upped their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a report on Tuesday, March 31st. Wall Street Zen downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. TD Cowen reissued a “hold” rating and set a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $39.93.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $38.71 on Friday. The business’s fifty day moving average is $37.67 and its 200 day moving average is $36.74. The firm has a market cap of $83.68 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.41 and a beta of 0.49. 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 L.P. has a 52-week low of $30.01 and a 52-week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last posted 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 company had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. During the same period in the previous year, the firm earned $0.64 EPS. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners L.P. will post 2.92 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a dividend of $0.56 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. Enterprise Products Partners’s payout ratio is currently 82.96%.

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.