Comerica Securities Inc. Grows Position in Enterprise Products Partners L.P. (EPD)
Comerica Securities Inc. lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 39.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,608 shares of the oil and gas producer’s stock after acquiring an additional 9,990 shares during the period. Comerica Securities Inc.’s holdings in Enterprise Products Partners were worth $876,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Enterprise Products Partners by 0.6% during the second quarter. FMR LLC now owns 11,523,060 shares of the oil and gas producer’s stock valued at $318,843,000 after acquiring an additional 74,391 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Enterprise Products Partners by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 556,318 shares of the oil and gas producer’s stock valued at $15,393,000 after acquiring an additional 7,748 shares in the last quarter. Northern Trust Corp grew its stake in shares of Enterprise Products Partners by 7.3% during the second quarter. Northern Trust Corp now owns 1,269,240 shares of the oil and gas producer’s stock valued at $35,120,000 after acquiring an additional 86,011 shares in the last quarter. Capital Investment Advisors LLC grew its stake in shares of Enterprise Products Partners by 2.7% during the third quarter. Capital Investment Advisors LLC now owns 242,023 shares of the oil and gas producer’s stock valued at $6,953,000 after acquiring an additional 6,391 shares in the last quarter. Finally, First Hawaiian Bank acquired a new stake in shares of Enterprise Products Partners during the third quarter valued at about $323,000. Institutional investors and hedge funds own 36.81% of the company’s stock.
Shares of EPD stock opened at $27.75 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. Enterprise Products Partners L.P. has a one year low of $23.10 and a one year high of $30.05. The stock has a market cap of $59.54 billion, a PE ratio of 14.30, a P/E/G ratio of 4.76 and a beta of 0.96.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 8th. Shareholders of record on Thursday, January 31st were issued a $0.435 dividend. The ex-dividend date was Wednesday, January 30th. This represents a $1.74 dividend on an annualized basis and a yield of 6.27%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.43. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 89.69%.
In other Enterprise Products Partners news, CEO Aj Teague bought 10,000 shares of the business’s stock in a transaction on Monday, December 31st. The shares were purchased at an average price of $24.36 per share, with a total value of $243,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,654,372 shares of the company’s stock, valued at approximately $40,300,501.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 45,005 shares of company stock worth $1,128,232 in the last three months. 37.50% of the stock is currently owned by corporate insiders.
Several brokerages have recently weighed in on EPD. Citigroup lowered their target price on Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, November 29th. Wells Fargo & Co raised their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, November 1st. Bank of America raised their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, October 15th. Mizuho began coverage on shares of Enterprise Products Partners in a research report on Wednesday, November 28th. They set a “buy” rating and a $33.00 price target on the stock. Finally, Evercore ISI began coverage on shares of Enterprise Products Partners in a research report on Tuesday, February 5th. They set an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus price target of $32.61.
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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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