Enterprise Products Partners L.P. $EPD Shares Bought by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,358,259 shares of the oil and gas producer’s stock after buying an additional 24,373 shares during the period. Enterprise Products Partners makes up about 3.3% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 2nd largest holding. Miller Howard Investments Inc. NY owned about 0.15% of Enterprise Products Partners worth $104,140,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Alps Advisors Inc. lifted its holdings in Enterprise Products Partners by 5.0% in the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock valued at $1,410,891,000 after acquiring an additional 1,967,188 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Enterprise Products Partners by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock valued at $375,662,000 after acquiring an additional 457,045 shares during the last quarter. Chickasaw Capital Management LLC lifted its holdings in shares of Enterprise Products Partners by 1.5% during the second quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock valued at $171,022,000 after purchasing an additional 81,135 shares during the last quarter. BROOKFIELD Corp ON lifted its holdings in shares of Enterprise Products Partners by 2.8% during the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock valued at $160,416,000 after purchasing an additional 128,545 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Enterprise Products Partners by 65.3% during the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock valued at $148,415,000 after buying an additional 1,717,768 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.5%

EPD opened at $31.65 on Friday. The firm has a market cap of $68.53 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.25 and a beta of 0.69. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The firm’s 50-day simple moving average is $31.56 and its 200-day simple moving average is $31.61. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 6.9%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, July 31st. Enterprise Products Partners’s payout ratio is currently 81.04%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Morgan Stanley reduced their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 26th. TD Cowen assumed coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They issued a “hold” rating and a $33.00 target price for the company. Barclays cut their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Finally, Stifel Nicolaus cut their price target on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Insider Transactions at Enterprise Products Partners

In related news, Director William C. Montgomery purchased 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the transaction, the director owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the acquisition, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. The trade was a 10.45% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by corporate insiders.

Enterprise Products Partners 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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.