Morningstar Investment Management LLC Has $1.57 Million Stock Holdings in Enterprise Products Partners L.P. $EPD

Morningstar Investment Management LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 51.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,916 shares of the oil and gas producer’s stock after selling 51,071 shares during the period. Morningstar Investment Management LLC’s holdings in Enterprise Products Partners were worth $1,568,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. PMV Capital Advisers LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter worth $25,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the third quarter worth $31,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners in the third quarter worth $32,000. Texas Capital Bancshares Inc TX acquired a new stake in Enterprise Products Partners during the third quarter valued at $32,000. Finally, Daytona Street Capital LLC acquired a new stake in Enterprise Products Partners during the fourth quarter valued at $42,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Aj Teague bought 2,665 shares of the business’s stock in a transaction on Friday, March 20th. The shares were bought at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the acquisition, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 32.60% of the stock is currently owned by company insiders.

Enterprise Products Partners Price Performance

NYSE EPD opened at $39.55 on Tuesday. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The stock’s 50-day moving average is $38.11 and its two-hundred day moving average is $35.10. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The firm has a market cap of $85.49 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter last year, the business earned $0.64 earnings per share. Enterprise Products Partners’s quarterly revenue was down 6.7% on a year-over-year basis. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.95 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. Shareholders of record on Thursday, April 30th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 5.6%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.

Analysts Set New Price Targets

A number of analysts recently issued reports on EPD shares. Wells Fargo & Company raised Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $42.00 in a research report on Wednesday, March 25th. Weiss Ratings cut Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Citigroup reissued a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Finally, Wall Street Zen cut Enterprise Products Partners from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.67.

About Enterprise Products Partners

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.