Beacon Financial Group Has $1.64 Million Holdings in Enterprise Products Partners L.P. (EPD)

Beacon Financial Group lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 11.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,942 shares of the oil and gas producer’s stock after buying an additional 6,363 shares during the quarter. Beacon Financial Group’s holdings in Enterprise Products Partners L.P. were worth $1,641,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of EPD. Ameritas Investment Partners Inc. lifted its position in shares of Enterprise Products Partners L.P. by 14.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,988 shares of the oil and gas producer’s stock worth $107,000 after buying an additional 500 shares during the last quarter. First Financial Corp IN raised its position in Enterprise Products Partners L.P. by 11.1% in the 2nd quarter. First Financial Corp IN now owns 4,000 shares of the oil and gas producer’s stock valued at $108,000 after purchasing an additional 400 shares during the last quarter. First Eagle Investment Management LLC purchased a new stake in Enterprise Products Partners L.P. in the 2nd quarter valued at $130,000. Camarda Financial Advisors LLC raised its position in Enterprise Products Partners L.P. by 0.6% in the 2nd quarter. Camarda Financial Advisors LLC now owns 4,835 shares of the oil and gas producer’s stock valued at $131,000 after purchasing an additional 27 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its position in Enterprise Products Partners L.P. by 690.9% in the 2nd quarter. Jacobi Capital Management LLC now owns 5,449 shares of the oil and gas producer’s stock valued at $148,000 after purchasing an additional 4,760 shares during the last quarter. Institutional investors and hedge funds own 37.48% of the company’s stock.

Shares of Enterprise Products Partners L.P. (EPD) traded up 0.41% on Friday, hitting $24.68. 2,238,393 shares of the stock traded hands. Enterprise Products Partners L.P. has a one year low of $24.01 and a one year high of $30.25. The company’s 50 day moving average is $26.03 and its 200 day moving average is $26.62. The stock has a market cap of $53.01 billion, a price-to-earnings ratio of 19.42 and a beta of 0.90.

Enterprise Products Partners L.P. (NYSE:EPD) last released its earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.03). The business had revenue of $6.61 billion for the quarter, compared to analysts’ expectations of $6.44 billion. Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. On average, equities analysts forecast that Enterprise Products Partners L.P. will post $1.33 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 7th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a dividend yield of 6.88%. This is a positive change from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, October 30th. Enterprise Products Partners L.P.’s payout ratio is currently 132.28%.

Several research firms recently commented on EPD. Zacks Investment Research upgraded shares of Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 price target on shares of Enterprise Products Partners L.P. in a research report on Sunday, October 22nd. Scotiabank set a $33.00 price target on shares of Enterprise Products Partners L.P. and gave the stock a “buy” rating in a research note on Sunday, October 15th. Mizuho set a $31.00 price target on shares of Enterprise Products Partners L.P. and gave the stock a “buy” rating in a research note on Sunday, October 15th. Finally, BMO Capital Markets set a $33.00 price target on shares of Enterprise Products Partners L.P. and gave the stock a “buy” rating in a research note on Thursday, October 12th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $30.99.

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About Enterprise Products Partners L.P.

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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

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