Northwestern Mutual Wealth Management Co. Buys 18,667 Shares of Enterprise Products Partners L.P. $EPD

Northwestern Mutual Wealth Management Co. raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 6.3% in the 4th quarter, HoldingsChannel reports. The firm owned 313,260 shares of the oil and gas producer’s stock after acquiring an additional 18,667 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Enterprise Products Partners were worth $10,043,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Savant Capital LLC grew its position in Enterprise Products Partners by 5.5% in the 4th quarter. Savant Capital LLC now owns 179,118 shares of the oil and gas producer’s stock worth $5,743,000 after purchasing an additional 9,269 shares in the last quarter. Novak & Powell Financial Services Inc. grew its position in Enterprise Products Partners by 1.4% in the 4th quarter. Novak & Powell Financial Services Inc. now owns 41,496 shares of the oil and gas producer’s stock worth $1,330,000 after purchasing an additional 593 shares in the last quarter. Foundations Investment Advisors LLC grew its position in Enterprise Products Partners by 9.1% in the 4th quarter. Foundations Investment Advisors LLC now owns 290,379 shares of the oil and gas producer’s stock worth $9,310,000 after purchasing an additional 24,216 shares in the last quarter. Godfrey Financial Associates Inc. bought a new stake in Enterprise Products Partners in the 4th quarter worth about $77,000. Finally, Kingsview Wealth Management LLC grew its position in Enterprise Products Partners by 1.9% in the 4th quarter. Kingsview Wealth Management LLC now owns 38,362 shares of the oil and gas producer’s stock worth $1,230,000 after purchasing an additional 723 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $39.00 target price on shares of Enterprise Products Partners in a research report on Thursday, May 14th. Stifel Nicolaus increased their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. TD Cowen reissued a “hold” rating and set a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Citigroup reissued a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Finally, Weiss Ratings cut shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, May 21st. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $39.67.

Insider Transactions at Enterprise Products Partners

In other news, CEO Aj Teague purchased 2,665 shares of the business’s stock in a transaction on Friday, March 20th. The shares were acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the acquisition, the chief executive officer directly owned 77,576 shares in the company, 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 SEC, which is available at the SEC website. 32.60% of the stock is currently owned by company insiders.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $37.22 on Tuesday. The company’s fifty day moving average price is $38.14 and its 200-day moving average price is $35.33. The firm has a market capitalization of $80.45 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.31 and a beta of 0.52. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results 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). The business had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.Enterprise Products Partners’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 EPS. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.

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.