Karras Company Inc. Purchases New Position in Enterprise Products Partners L.P. $EPD

Karras Company Inc. purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, Holdings Channel reports. The firm purchased 37,742 shares of the oil and gas producer’s stock, valued at approximately $1,210,000. Enterprise Products Partners accounts for 1.2% of Karras Company Inc.’s holdings, making the stock its 23rd largest position.

Other large investors have also recently modified their holdings of the company. Miller Howard Investments Inc. NY boosted its holdings in shares of Enterprise Products Partners by 1.0% in the fourth 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 period. PNC Financial Services Group Inc. boosted its holdings in shares of Enterprise Products Partners by 3.0% in the third quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer’s stock valued at $39,153,000 after purchasing an additional 36,339 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Enterprise Products Partners by 20.2% in the third quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer’s stock valued at $7,189,000 after purchasing an additional 38,660 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Enterprise Products Partners by 70.6% in the third quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer’s stock valued at $46,765,000 after purchasing an additional 619,014 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in Enterprise Products Partners by 8.6% during the third quarter. Thrivent Financial for Lutherans now owns 4,182,229 shares of the oil and gas producer’s stock worth $130,778,000 after buying an additional 331,066 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EPD. Weiss Ratings lowered Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday. Wall Street Zen lowered Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Royal Bank Of Canada upped their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Finally, JPMorgan Chase & Co. upped their target price on Enterprise Products Partners from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $39.67.

Enterprise Products Partners Stock Up 0.2%

Enterprise Products Partners stock opened at $39.55 on Friday. The business has a fifty day moving average of $38.05 and a two-hundred day moving average of $35.01. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The firm has a market cap of $85.49 billion, a P/E ratio of 14.65, a P/E/G ratio of 1.47 and a beta of 0.52. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17.

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 business had revenue of $14.39 billion for 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 business’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.95 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a dividend of $0.55 per share. The ex-dividend date of this dividend 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 dividend payout ratio is presently 81.48%.

Insider Activity

In other Enterprise Products Partners news, CEO Aj Teague purchased 2,665 shares of Enterprise Products Partners stock in a transaction dated Friday, March 20th. The shares were acquired at an average cost of $37.55 per share, with a total value of $100,070.75. Following the completion of the transaction, the chief executive officer owned 77,576 shares in the company, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 32.60% of the company’s stock.

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.