ProShare Advisors LLC Increases Stock Holdings in Enterprise Products Partners L.P. $EPD

ProShare Advisors LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 13.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 135,406 shares of the oil and gas producer’s stock after buying an additional 15,813 shares during the period. ProShare Advisors LLC’s holdings in Enterprise Products Partners were worth $4,341,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Energy Income Partners LLC boosted its holdings in shares of Enterprise Products Partners by 0.6% in the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock worth $459,829,000 after purchasing an additional 80,884 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Enterprise Products Partners by 1.9% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,570,499 shares of the oil and gas producer’s stock worth $361,810,000 after purchasing an additional 214,995 shares during the period. CIBC Bancorp USA Inc. purchased a new position in shares of Enterprise Products Partners in the 3rd quarter worth approximately $292,194,000. Berkley W R Corp boosted its holdings in shares of Enterprise Products Partners by 17.9% in the 3rd quarter. Berkley W R Corp now owns 6,000,000 shares of the oil and gas producer’s stock worth $187,620,000 after purchasing an additional 910,206 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Enterprise Products Partners by 7.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock worth $144,592,000 after purchasing an additional 327,807 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $39.55 on Friday. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The firm has a market capitalization of $85.49 billion, a P/E ratio of 14.65, a P/E/G ratio of 1.47 and a beta of 0.52. The stock has a 50 day moving average price of $38.05 and a 200 day moving average price of $35.01.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (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 for the quarter, compared to the consensus estimate of $13.62 billion. During the same period in the prior year, the business posted $0.64 earnings per share. Enterprise Products Partners’s revenue was down 6.7% on a year-over-year basis. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.95 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of recent research reports. Truist Financial lifted their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Jefferies Financial Group lifted their target price on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a report on Tuesday, March 31st. Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $42.00 in a report on Wednesday, March 25th. Scotiabank reiterated a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Finally, UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Wednesday, March 4th. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $39.67.

Insider Activity

In other Enterprise Products Partners news, CEO Aj Teague purchased 2,665 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average cost of $37.55 per share, with a total value of $100,070.75. Following the purchase, the chief executive officer owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. The trade was a 3.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 32.60% of the company’s stock.

Enterprise Products Partners 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.