Guggenheim Capital LLC Has $348,000 Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Guggenheim Capital LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 4.5% in the third quarter, HoldingsChannel.com reports. The firm owned 14,638 shares of the oil and gas producer’s stock after acquiring an additional 636 shares during the period. Guggenheim Capital LLC’s holdings in Enterprise Products Partners were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Fairfield Bush & CO. acquired a new position in shares of Enterprise Products Partners in the first quarter valued at $31,000. Ameliora Wealth Management Ltd. acquired a new position in Enterprise Products Partners during the third quarter worth $32,000. McIlrath & Eck LLC raised its stake in Enterprise Products Partners by 86.4% during the third quarter. McIlrath & Eck LLC now owns 1,400 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 649 shares in the last quarter. Wagner Wealth Management LLC acquired a new position in Enterprise Products Partners during the second quarter worth $37,000. Finally, Kistler Tiffany Companies LLC raised its stake in Enterprise Products Partners by 43.1% during the third quarter. Kistler Tiffany Companies LLC now owns 1,670 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 503 shares in the last quarter. 26.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Aj Teague bought 21,150 shares of Enterprise Products Partners stock in a transaction on Tuesday, December 20th. The shares were purchased at an average price of $23.60 per share, for a total transaction of $499,140.00. Following the completion of the acquisition, the chief executive officer now owns 2,335,225 shares in the company, valued at $55,111,310. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Aj Teague bought 21,150 shares of Enterprise Products Partners stock in a transaction on Tuesday, December 20th. The shares were purchased at an average price of $23.60 per share, for a total transaction of $499,140.00. Following the completion of the acquisition, the chief executive officer now owns 2,335,225 shares in the company, valued at $55,111,310. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carin Marcy Barth bought 5,000 shares of Enterprise Products Partners stock in a transaction on Tuesday, December 27th. The shares were bought at an average price of $23.99 per share, for a total transaction of $119,950.00. Following the acquisition, the director now owns 75,776 shares of the company’s stock, valued at approximately $1,817,866.24. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 29,800 shares of company stock worth $707,019. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $25.60 on Monday. The business’s 50-day simple moving average is $25.78 and its 200 day simple moving average is $25.23. The stock has a market cap of $55.57 billion, a price-to-earnings ratio of 10.24 and a beta of 1.10. Enterprise Products Partners L.P. has a 12-month low of $22.90 and a 12-month high of $28.65. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.96.

Enterprise Products Partners (NYSE:EPD – Get Rating) last posted its quarterly earnings results on Wednesday, February 1st. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05. Enterprise Products Partners had a return on equity of 20.38% and a net margin of 9.43%. The business had revenue of $13.65 billion for the quarter, compared to analysts’ expectations of $14.74 billion. During the same quarter last year, the business earned $0.52 earnings per share. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.5 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, January 30th. This represents a $1.96 dividend on an annualized basis and a yield of 7.66%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.48. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.40%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EPD. Scotiabank began coverage on Enterprise Products Partners in a research note on Thursday, March 2nd. They set a “sector outperform” rating and a $31.00 price objective for the company. Citigroup initiated coverage on Enterprise Products Partners in a research note on Thursday, December 8th. They set a “buy” rating and a $31.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday. TD Securities raised their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. Finally, Wolfe Research upgraded Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $27.00 target price for the company in a research note on Monday, January 9th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus target price of $30.83.

Enterprise Products Partners Profile

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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.