Van ECK Associates Corp Increases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Van ECK Associates Corp increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 92,145 shares of the oil and gas producer’s stock after buying an additional 2,881 shares during the quarter. Van ECK Associates Corp’s holdings in Enterprise Products Partners were worth $2,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in EPD. Alps Advisors Inc. grew its holdings in shares of Enterprise Products Partners by 20.2% during the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after buying an additional 6,369,350 shares during the last quarter. Blackstone Inc. grew its holdings in shares of Enterprise Products Partners by 12.0% during the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after buying an additional 2,472,847 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Enterprise Products Partners by 14.2% during the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after buying an additional 2,155,640 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Enterprise Products Partners by 2,436.1% during the fourth quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock valued at $308,640,000 after buying an additional 1,125,117 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Enterprise Products Partners by 121.9% during the third quarter. Barclays PLC now owns 2,018,667 shares of the oil and gas producer’s stock valued at $55,251,000 after buying an additional 1,108,840 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Down 0.1 %

Shares of NYSE:EPD opened at $28.35 on Wednesday. Enterprise Products Partners L.P. has a 52-week low of $25.19 and a 52-week high of $29.99. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The business has a fifty day moving average of $28.68 and a two-hundred day moving average of $27.36. The stock has a market cap of $61.47 billion, a P/E ratio of 11.12 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The company had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $13.82 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. Enterprise Products Partners’s quarterly revenue was up 18.6% compared to the same quarter last year. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 7.27%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

Wall Street Analysts Forecast Growth

EPD has been the topic of several recent research reports. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Barclays upped their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Mizuho reaffirmed a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Scotiabank upped their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Finally, Truist Financial upped their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners has an average rating of “Buy” and an average target price of $32.75.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.