Private Harbour Investment Management & Counsel LLC lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,535 shares of the oil and gas producer’s stock after selling 1,925 shares during the quarter. Private Harbour Investment Management & Counsel LLC’s holdings in Enterprise Products Partners were worth $1,234,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. ING Groep NV lifted its stake in Enterprise Products Partners by 72.1% in the third quarter. ING Groep NV now owns 7,269,400 shares of the oil and gas producer’s stock worth $189,513,000 after acquiring an additional 3,044,560 shares during the period. Commonwealth Bank of Australia raised its holdings in Enterprise Products Partners by 42.1% in the third quarter. Commonwealth Bank of Australia now owns 8,721,237 shares of the oil and gas producer’s stock worth $226,465,000 after purchasing an additional 2,584,339 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in Enterprise Products Partners by 5.0% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 43,760,469 shares of the oil and gas producer’s stock worth $1,140,835,000 after purchasing an additional 2,092,528 shares in the last quarter. Harvest Fund Advisors LLC increased its holdings in shares of Enterprise Products Partners by 5.1% during the third quarter. Harvest Fund Advisors LLC now owns 42,612,584 shares of the oil and gas producer’s stock valued at $1,110,910,000 after acquiring an additional 2,076,377 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Enterprise Products Partners by 23.0% during the third quarter. American Century Companies Inc. now owns 9,368,245 shares of the oil and gas producer’s stock valued at $244,230,000 after acquiring an additional 1,752,890 shares in the last quarter. 36.93% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Aj Teague bought 11,300 shares of the business’s stock in a transaction dated Wednesday, December 27th. The shares were purchased at an average price of $26.47 per share, with a total value of $299,111.00. Following the transaction, the chief executive officer now owns 1,474,183 shares in the company, valued at approximately $39,021,624.01. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 37.50% of the company’s stock.
Enterprise Products Partners L.P. (NYSE:EPD) traded up $0.09 during trading hours on Wednesday, reaching $27.27. The company’s stock had a trading volume of 3,052,282 shares, compared to its average volume of 6,029,421. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 0.96. Enterprise Products Partners L.P. has a 1-year low of $23.59 and a 1-year high of $29.51. The company has a market cap of $58,660.00, a P/E ratio of 24.59, a price-to-earnings-growth ratio of 4.35 and a beta of 0.81.
Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, January 31st. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. Enterprise Products Partners had a return on equity of 12.53% and a net margin of 9.57%. The business had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the previous year, the company posted $0.31 EPS. The company’s revenue was up 30.1% compared to the same quarter last year. equities research analysts expect that Enterprise Products Partners L.P. will post 1.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 31st were given a dividend of $0.425 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.70 annualized dividend and a dividend yield of 6.23%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.42. Enterprise Products Partners’s payout ratio is currently 153.15%.
EPD has been the subject of several analyst reports. Zacks Investment Research downgraded Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Credit Suisse Group started coverage on Enterprise Products Partners in a research report on Thursday, January 4th. They set an “outperform” rating and a $31.00 price objective on the stock. SunTrust Banks reaffirmed a “buy” rating and set a $29.00 price objective on shares of Enterprise Products Partners in a research report on Friday, November 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 price objective on shares of Enterprise Products Partners in a research report on Sunday, October 22nd. Finally, Tudor Pickering raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, December 13th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.14.
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Enterprise Products Partners Company Profile
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.
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