HighTower Advisors LLC Grows Stake in Enterprise Products Partners L.P. $EPD

HighTower Advisors LLC increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 24.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,858,629 shares of the oil and gas producer’s stock after purchasing an additional 762,079 shares during the quarter. HighTower Advisors LLC owned approximately 0.18% of Enterprise Products Partners worth $123,708,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. PMV Capital Advisers LLC purchased a new position in Enterprise Products Partners during the fourth quarter valued at $25,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the third quarter valued at $31,000. Texas Capital Bancshares Inc TX purchased a new position in Enterprise Products Partners during the third quarter valued at $32,000. Abich Financial Wealth Management LLC purchased a new position in Enterprise Products Partners during the third quarter valued at $32,000. Finally, Daytona Street Capital LLC purchased a new position in Enterprise Products Partners during the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on EPD shares. Morgan Stanley reaffirmed an “underweight” rating and set a $42.00 target price on shares of Enterprise Products Partners in a research note on Tuesday, April 14th. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Thursday, January 22nd. The Goldman Sachs Group restated a “neutral” rating and set a $39.00 price target on shares of Enterprise Products Partners in a report on Thursday, May 14th. Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $40.00 to $42.00 in a report on Wednesday, March 25th. Finally, Citigroup restated a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.60.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $39.76 on Wednesday. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The stock has a market capitalization of $85.95 billion, a P/E ratio of 14.73, a PEG ratio of 1.48 and a beta of 0.52. The firm has a fifty day simple moving average of $37.90 and a two-hundred day simple moving average of $34.86. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The business’s quarterly revenue was down 6.7% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a $0.55 dividend. The ex-dividend date was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.5%. Enterprise Products Partners’s payout ratio is 81.48%.

Insider Activity at Enterprise Products Partners

In related news, CEO Aj Teague bought 2,665 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was purchased at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the acquisition, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company 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.