Cwm LLC Boosts Stock Position in Enterprise Products Partners L.P. $EPD

Cwm LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 164,980 shares of the oil and gas producer’s stock after acquiring an additional 16,953 shares during the period. Cwm LLC’s holdings in Enterprise Products Partners were worth $5,289,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tred Avon Family Wealth LLC purchased a new stake in shares of Enterprise Products Partners in the third quarter worth $1,015,000. Tectonic Advisors LLC raised its position in shares of Enterprise Products Partners by 10.0% in the third quarter. Tectonic Advisors LLC now owns 678,769 shares of the oil and gas producer’s stock worth $21,225,000 after buying an additional 61,669 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Enterprise Products Partners by 3.0% in the third quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer’s stock worth $39,153,000 after buying an additional 36,339 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Enterprise Products Partners by 20.2% in the third quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer’s stock worth $7,189,000 after buying an additional 38,660 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Enterprise Products Partners by 70.6% in the third quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer’s stock worth $46,765,000 after buying an additional 619,014 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

More Enterprise Products Partners News

Here are the key news stories impacting Enterprise Products Partners this week:

Insiders Place Their Bets

In other news, CEO Aj Teague purchased 2,665 shares of the stock in a transaction on Friday, March 20th. The shares were acquired at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the transaction, the chief executive officer directly owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 32.60% of the stock is owned by insiders.

Enterprise Products Partners Trading Up 0.9%

NYSE EPD opened at $37.26 on Wednesday. The stock’s 50-day simple moving average is $37.23 and its two-hundred day simple moving average is $33.92. Enterprise Products Partners L.P. has a twelve month low of $29.66 and a twelve month high of $39.74. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $80.54 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.42 and a beta of 0.55.

Enterprise Products Partners (NYSE:EPDGet Free Report) last released its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The business had revenue of $13.79 billion for the quarter, compared to the consensus estimate of $12.44 billion. During the same quarter last year, the business posted $0.74 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Research analysts forecast that Enterprise Products Partners L.P. will post 2.85 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a yield of 5.9%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.71%.

Analysts Set New Price Targets

EPD has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $42.00 price objective on shares of Enterprise Products Partners in a research report on Tuesday, April 14th. Barclays increased their price objective on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. TD Cowen reiterated a “hold” rating and issued a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. JPMorgan Chase & Co. increased their price objective on Enterprise Products Partners from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Finally, UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.27.

View Our Latest Analysis on Enterprise Products Partners

About Enterprise Products Partners

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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