Allspring Global Investments Holdings LLC Boosts Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Allspring Global Investments Holdings LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 52.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,900 shares of the oil and gas producer’s stock after buying an additional 17,200 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Enterprise Products Partners were worth $1,186,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EPD. BlackRock Inc. grew its holdings in shares of Enterprise Products Partners by 4.7% during the 1st quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock worth $646,548,000 after purchasing an additional 1,114,690 shares during the period. FMR LLC boosted its holdings in Enterprise Products Partners by 1.5% in the 2nd quarter. FMR LLC now owns 12,779,225 shares of the oil and gas producer’s stock worth $311,430,000 after acquiring an additional 194,468 shares during the period. Clearbridge Investments LLC boosted its holdings in Enterprise Products Partners by 12.5% in the 1st quarter. Clearbridge Investments LLC now owns 11,888,708 shares of the oil and gas producer’s stock worth $306,848,000 after acquiring an additional 1,323,267 shares during the period. Kayne Anderson Capital Advisors LP raised its position in shares of Enterprise Products Partners by 3.2% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 11,172,932 shares of the oil and gas producer’s stock valued at $272,284,000 after purchasing an additional 342,900 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Enterprise Products Partners by 2.6% in the 2nd quarter. Deutsche Bank AG now owns 9,630,708 shares of the oil and gas producer’s stock valued at $234,700,000 after purchasing an additional 242,478 shares in the last quarter. Hedge funds and other institutional investors own 26.54% of the company’s stock.

Insider Buying and Selling at Enterprise Products Partners

In other news, CEO Aj Teague acquired 3,650 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The shares were bought at an average price of $24.09 per share, with a total value of $87,928.50. Following the acquisition, the chief executive officer now owns 2,337,775 shares of the company’s stock, valued at $56,316,999.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Carin Marcy Barth acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 27th. The stock was acquired at an average cost of $23.99 per share, with a total value of $119,950.00. Following the completion of the purchase, the director now directly owns 75,776 shares in the company, valued at $1,817,866.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aj Teague acquired 3,650 shares of the firm’s stock in a transaction that occurred on Tuesday, December 27th. The shares were bought at an average cost of $24.09 per share, with a total value of $87,928.50. Following the completion of the purchase, the chief executive officer now owns 2,337,775 shares of the company’s stock, valued at $56,316,999.75. The disclosure for this purchase can be found here. Insiders have acquired 39,800 shares of company stock valued at $955,819 in the last 90 days. 32.60% of the stock is currently owned by insiders.

Enterprise Products Partners Stock Up 1.0 %

Shares of Enterprise Products Partners stock opened at $25.74 on Friday. The stock has a 50-day moving average price of $24.58 and a 200 day moving average price of $25.22. The company has a market cap of $56.00 billion, a P/E ratio of 11.09 and a beta of 1.11. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.97. Enterprise Products Partners L.P. has a 1 year low of $22.75 and a 1 year high of $28.65.

Enterprise Products Partners (NYSE:EPDGet Rating) last posted its quarterly earnings results on Tuesday, November 1st. The oil and gas producer reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Enterprise Products Partners had a return on equity of 19.59% and a net margin of 9.12%. The company had revenue of $15.47 billion during the quarter, compared to the consensus estimate of $13.85 billion. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.48 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st will be issued a $0.49 dividend. The ex-dividend date of this dividend is Monday, January 30th. This represents a $1.96 dividend on an annualized basis and a yield of 7.61%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.48. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.90%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com assumed coverage on Enterprise Products Partners in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock. Tudor Pickering lowered Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $29.00 price target on the stock. in a research report on Tuesday, October 18th. Tudor, Pickering, Holt & Co. lowered Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $29.00 target price on the stock. in a research report on Tuesday, October 18th. Citigroup initiated coverage on Enterprise Products Partners in a research report on Thursday, December 8th. They issued a “buy” rating and a $31.00 target price on the stock. Finally, Wolfe Research raised Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a research report on Monday, January 9th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.50.

About Enterprise Products Partners

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Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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