Enterprise Products Partners L.P. (EPD) Shares Bought by Miracle Mile Advisors LLC
Miracle Mile Advisors LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 51.1% in the 4th quarter, Holdings Channel reports. The firm owned 19,108 shares of the oil and gas producer’s stock after purchasing an additional 6,460 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Enterprise Products Partners were worth $507,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of EPD. Ameritas Investment Partners Inc. raised its position in Enterprise Products Partners by 14.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,988 shares of the oil and gas producer’s stock valued at $107,000 after purchasing an additional 500 shares during the last quarter. Ffcm LLC bought a new position in Enterprise Products Partners in the 3rd quarter valued at $112,000. Global Trust Asset Management LLC bought a new position in Enterprise Products Partners in the 4th quarter valued at $123,000. Vigilant Capital Management LLC bought a new position in Enterprise Products Partners in the 4th quarter valued at $126,000. Finally, Trust Department MB Financial Bank N A raised its position in Enterprise Products Partners by 81.4% in the 4th quarter. Trust Department MB Financial Bank N A now owns 5,528 shares of the oil and gas producer’s stock valued at $147,000 after purchasing an additional 2,480 shares during the last quarter. Hedge funds and other institutional investors own 37.01% of the company’s stock.
Several brokerages have issued reports on EPD. Royal Bank of Canada cut their price objective on Enterprise Products Partners from $34.00 to $31.00 and set an “outperform” rating for the company in a research report on Tuesday, October 31st. BMO Capital Markets reiterated a “buy” rating and issued a $33.00 price objective on shares of Enterprise Products Partners in a research report on Tuesday, November 14th. Stifel Nicolaus boosted their target price on Enterprise Products Partners from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Mizuho set a $31.00 target price on Enterprise Products Partners and gave the stock a “buy” rating in a research report on Sunday, October 15th. Finally, Jefferies Group restated a “buy” rating and set a $31.00 target price on shares of Enterprise Products Partners in a research report on Friday, January 12th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Enterprise Products Partners has an average rating of “Buy” and an average target price of $31.14.
Enterprise Products Partners (NYSE:EPD) last released its earnings results on Wednesday, January 31st. The oil and gas producer reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $8.43 billion during the quarter, compared to the consensus estimate of $7.02 billion. Enterprise Products Partners had a return on equity of 12.53% and a net margin of 9.57%. The firm’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.31 earnings per share. research analysts forecast that Enterprise Products Partners L.P. will post 1.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 7th. Investors of record on Wednesday, January 31st were issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date was Tuesday, January 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.42. Enterprise Products Partners’s dividend payout ratio is currently 153.15%.
In related news, CEO Aj Teague acquired 11,300 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The stock was acquired at an average price of $26.47 per share, for a total transaction of $299,111.00. Following the completion of the acquisition, the chief executive officer now owns 1,474,183 shares of the company’s stock, valued at approximately $39,021,624.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 37.50% of the company’s stock.
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Enterprise Products Partners Company Profile
Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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