Saratoga Research & Investment Management Takes $324,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Saratoga Research & Investment Management acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,430 shares of the oil and gas producer’s stock, valued at approximately $324,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners boosted its position in shares of Enterprise Products Partners L.P. by 82.6% in the second quarter. Boston Partners now owns 1,206,722 shares of the oil and gas producer’s stock valued at $32,678,000 after acquiring an additional 545,856 shares during the period. Cullen Frost Bankers Inc. lifted its position in Enterprise Products Partners L.P. by 1.8% in the second quarter. Cullen Frost Bankers Inc. now owns 92,837 shares of the oil and gas producer’s stock worth $2,514,000 after purchasing an additional 1,616 shares during the period. Pinnacle Financial Partners Inc. bought a new position in Enterprise Products Partners L.P. in the second quarter worth $1,159,000. Marshall Wace North America L.P. bought a new position in Enterprise Products Partners L.P. in the second quarter worth $12,501,000. Finally, Everett Harris & Co. CA lifted its position in Enterprise Products Partners L.P. by 17.3% in the second quarter. Everett Harris & Co. CA now owns 94,025 shares of the oil and gas producer’s stock worth $2,546,000 after purchasing an additional 13,861 shares during the period. 37.56% of the stock is owned by institutional investors.

Shares of Enterprise Products Partners L.P. (NYSE EPD) traded up $0.10 during trading hours on Friday, hitting $25.00. The stock had a trading volume of 3,633,700 shares, compared to its average volume of 4,638,610. Enterprise Products Partners L.P. has a 52 week low of $23.84 and a 52 week high of $30.25. The firm has a market capitalization of $53,602.30, a price-to-earnings ratio of 19.61, a PEG ratio of 3.72 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.41 and a current ratio of 0.71.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 7th. Stockholders of record on Tuesday, October 31st were paid a $0.4225 dividend. The ex-dividend date was Monday, October 30th. This is a positive change from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a dividend yield of 6.76%. Enterprise Products Partners L.P.’s dividend payout ratio (DPR) is 135.20%.

In other Enterprise Products Partners L.P. news, Director Carin Marcy Barth bought 12,000 shares of the stock in a transaction dated Monday, November 6th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $300,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 37.50% of the company’s stock.

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Several research analysts recently commented on the company. Zacks Investment Research raised Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a research report on Tuesday. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $29.00 target price on shares of Enterprise Products Partners L.P. in a research report on Friday, November 3rd. Royal Bank of Canada reduced their target price on Enterprise Products Partners L.P. from $34.00 to $31.00 and set an “outperform” rating for the company in a research report on Tuesday, October 31st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 target price on shares of Enterprise Products Partners L.P. in a research report on Sunday, October 22nd. Finally, Scotiabank set a $33.00 target price on Enterprise Products Partners L.P. and gave the stock a “buy” rating in a research report on Sunday, October 15th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $30.86.

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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