PMG Family Office LLC Buys Shares of 15,458 Enterprise Products Partners L.P. $EPD

PMG Family Office LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,458 shares of the oil and gas producer’s stock, valued at approximately $483,000.

A number of other large investors also recently modified their holdings of EPD. IFP Advisors Inc boosted its holdings in shares of Enterprise Products Partners by 6.2% in the 3rd quarter. IFP Advisors Inc now owns 38,295 shares of the oil and gas producer’s stock valued at $1,197,000 after buying an additional 2,237 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in Enterprise Products Partners during the third quarter worth about $292,194,000. Sunbelt Securities Inc. lifted its holdings in Enterprise Products Partners by 6.1% in the third quarter. Sunbelt Securities Inc. now owns 225,956 shares of the oil and gas producer’s stock worth $7,066,000 after acquiring an additional 13,008 shares during the last quarter. Fulcrum Asset Management LLP bought a new position in Enterprise Products Partners in the third quarter worth about $68,000. Finally, Greenline Partners LLC boosted its stake in Enterprise Products Partners by 10.2% in the third quarter. Greenline Partners LLC now owns 76,032 shares of the oil and gas producer’s stock valued at $2,378,000 after acquiring an additional 7,010 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EPD. TD Cowen increased their price target on Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “hold” rating in a research report on Wednesday, February 4th. Barclays boosted their price objective on Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Thursday, January 22nd. UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Finally, Stifel Nicolaus raised their target price on Enterprise Products Partners from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.14.

Enterprise Products Partners Stock Performance

EPD opened at $37.07 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.74 and a debt-to-equity ratio of 1.07. The business’s 50 day moving average is $35.11 and its 200-day moving average is $32.87. The stock has a market cap of $80.14 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.50 and a beta of 0.59. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $38.22.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $12.44 billion. During the same period in the prior year, the company posted $0.74 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 annualized dividend and a dividend yield of 5.9%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.71%.

Insider Activity

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the stock in a transaction dated Monday, December 29th. The shares were bought at an average cost of $32.09 per share, with a total value of $481,350.00. Following the completion of the acquisition, the director owned 173,586 shares of the company’s stock, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Company 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.