Thrivent Financial for Lutherans Buys 327,807 Shares of Enterprise Products Partners L.P. $EPD

Thrivent Financial for Lutherans lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.8% during the 4th quarter, HoldingsChannel reports. The firm owned 4,510,036 shares of the oil and gas producer’s stock after acquiring an additional 327,807 shares during the period. Thrivent Financial for Lutherans’ holdings in Enterprise Products Partners were worth $144,592,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Energy Income Partners LLC grew its holdings in shares of Enterprise Products Partners by 0.6% during the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock valued at $459,829,000 after purchasing an additional 80,884 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Enterprise Products Partners by 1.9% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,570,499 shares of the oil and gas producer’s stock valued at $361,810,000 after purchasing an additional 214,995 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at approximately $292,194,000. Berkley W R Corp grew its holdings in shares of Enterprise Products Partners by 17.9% during the 3rd quarter. Berkley W R Corp now owns 6,000,000 shares of the oil and gas producer’s stock valued at $187,620,000 after purchasing an additional 910,206 shares during the last quarter. Finally, Miller Howard Investments Inc. NY grew its holdings in shares of Enterprise Products Partners by 1.0% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock valued at $99,775,000 after purchasing an additional 31,733 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Morgan Stanley reiterated an “underweight” rating and set a $42.00 target price on shares of Enterprise Products Partners in a research report on Tuesday, April 14th. Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Monday, April 6th. Jefferies Financial Group lifted their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research report on Tuesday, March 31st. Wells Fargo & Company upgraded shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, March 25th. Finally, UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Hold” and a consensus target price of $39.60.

Insider Activity

In other news, CEO Aj Teague purchased 2,665 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were purchased at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the transaction, the chief executive officer owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Up 2.3%

Shares of NYSE EPD opened at $39.15 on Friday. The company has a market capitalization of $84.64 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 1.44 and a beta of 0.52. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $39.74. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.74 and a current ratio of 0.91. The company’s 50 day moving average price is $37.78 and its 200-day moving average price is $34.68.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The firm had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a $0.55 dividend. The ex-dividend date was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.6%. Enterprise Products Partners’s payout ratio 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.