Russell Investments Group Ltd. grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 763,916 shares of the oil and gas producer’s stock after acquiring an additional 62,719 shares during the period. Russell Investments Group Ltd.’s holdings in Enterprise Products Partners were worth $21,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of EPD. The Manufacturers Life Insurance Company grew its position in shares of Enterprise Products Partners by 18.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 105,317 shares of the oil and gas producer’s stock valued at $2,578,000 after acquiring an additional 16,116 shares during the period. Principal Financial Group Inc. boosted its holdings in Enterprise Products Partners by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 5,688,613 shares of the oil and gas producer’s stock worth $139,257,000 after buying an additional 147,438 shares during the period. Allianz Asset Management GmbH boosted its holdings in Enterprise Products Partners by 32.1% in the 1st quarter. Allianz Asset Management GmbH now owns 291,445 shares of the oil and gas producer’s stock worth $7,135,000 after buying an additional 70,868 shares during the period. Fisher Asset Management LLC bought a new position in Enterprise Products Partners in the 2nd quarter worth $359,000. Finally, Capital Investment Advisors LLC boosted its holdings in Enterprise Products Partners by 7.5% in the 2nd quarter. Capital Investment Advisors LLC now owns 235,632 shares of the oil and gas producer’s stock worth $6,520,000 after buying an additional 16,470 shares during the period. 36.37% of the stock is owned by hedge funds and other institutional investors.
In other Enterprise Products Partners news, Director James T. Hackett sold 25,000 shares of the stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $26.94, for a total transaction of $673,500.00. Following the completion of the transaction, the director now owns 226,832 shares of the company’s stock, valued at approximately $6,110,854.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 37.50% of the stock is owned by corporate insiders.
EPD opened at $27.04 on Wednesday. Enterprise Products Partners L.P. has a 52 week low of $23.10 and a 52 week high of $30.05. The stock has a market cap of $57.57 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 4.85 and a beta of 0.87. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 1.00.
Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.60 EPS for the quarter, beating the consensus estimate of $0.45 by $0.15. Enterprise Products Partners had a net margin of 10.23% and a return on equity of 16.38%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.72 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. The business’s revenue was up 39.2% on a year-over-year basis. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 1.87 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Wednesday, October 31st will be issued a dividend of $0.4325 per share. This represents a $1.73 annualized dividend and a dividend yield of 6.40%. The ex-dividend date of this dividend is Tuesday, October 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.43. Enterprise Products Partners’s dividend payout ratio is 131.06%.
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About Enterprise Products Partners
Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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