Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 24.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 287,545 shares of the oil and gas producer’s stock after acquiring an additional 56,286 shares during the period. Northern Trust Corp’s holdings in Enterprise Products Partners were worth $9,017,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Invesco Ltd. lifted its position in shares of Enterprise Products Partners by 1.3% during the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock valued at $849,126,000 after acquiring an additional 359,288 shares during the last quarter. FMR LLC lifted its position in shares of Enterprise Products Partners by 2.1% during the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock valued at $462,067,000 after acquiring an additional 304,997 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its stake in Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after purchasing an additional 1,947,017 shares during the period. Stifel Financial Corp raised its stake in Enterprise Products Partners by 10.1% during the 4th quarter. Stifel Financial Corp now owns 3,822,076 shares of the oil and gas producer’s stock valued at $119,861,000 after purchasing an additional 351,387 shares during the period. Finally, LPL Financial LLC raised its stake in Enterprise Products Partners by 10.7% during the 4th quarter. LPL Financial LLC now owns 3,326,224 shares of the oil and gas producer’s stock valued at $104,310,000 after purchasing an additional 321,145 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.5%

NYSE EPD opened at $32.44 on Monday. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $70.35 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. The firm’s fifty day simple moving average is $31.64 and its 200-day simple moving average is $32.16.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 earnings per share. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.60%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners’s payout ratio is 80.15%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EPD shares. Scotiabank boosted their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Citigroup cut their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. StockNews.com raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Finally, Barclays boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average target price of $36.67.

Enterprise Products Partners Company 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.