Parallel Advisors LLC boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 2.9% in the third quarter, Holdings Channel reports. The firm owned 119,135 shares of the oil and gas producer’s stock after acquiring an additional 3,311 shares during the period. Parallel Advisors LLC’s holdings in Enterprise Products Partners were worth $3,423,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EPD. Tompkins Financial Corp increased its holdings in shares of Enterprise Products Partners by 150.3% in the second quarter. Tompkins Financial Corp now owns 3,830 shares of the oil and gas producer’s stock worth $106,000 after acquiring an additional 2,300 shares in the last quarter. Stelac Advisory Services LLC bought a new stake in shares of Enterprise Products Partners in the second quarter worth about $109,000. Poehling Capital Management LLC bought a new stake in shares of Enterprise Products Partners in the second quarter worth about $111,000. Arlington Partners LLC bought a new stake in shares of Enterprise Products Partners in the third quarter worth about $115,000. Finally, Horrell Capital Management Inc. bought a new stake in shares of Enterprise Products Partners in the second quarter worth about $122,000. Institutional investors and hedge funds own 36.50% of the company’s stock.
EPD stock opened at $26.81 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. The stock has a market cap of $57.27 billion, a PE ratio of 20.31, a PEG ratio of 5.02 and a beta of 0.91. Enterprise Products Partners L.P. has a fifty-two week low of $23.10 and a fifty-two week high of $30.05.
Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.15. The company had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.72 billion. Enterprise Products Partners had a return on equity of 14.42% and a net margin of 8.95%. Enterprise Products Partners’s revenue for the quarter was up 39.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 1.76 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Wednesday, October 31st will be given a dividend of $0.4325 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.43. This represents a $1.73 annualized dividend and a dividend yield of 6.45%. The ex-dividend date of this dividend is Tuesday, October 30th. Enterprise Products Partners’s dividend payout ratio is currently 131.06%.
Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Stifel Nicolaus increased their price target on Enterprise Products Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. ValuEngine downgraded Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday. Wells Fargo & Co increased their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Barclays increased their price target on Enterprise Products Partners from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Enterprise Products Partners has an average rating of “Buy” and a consensus target price of $32.83.
Enterprise Products Partners Profile
Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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