Buckingham Asset Management LLC raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 54.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,750 shares of the oil and gas producer’s stock after purchasing an additional 14,311 shares during the period. Buckingham Asset Management LLC’s holdings in Enterprise Products Partners were worth $1,171,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in EPD. The Manufacturers Life Insurance Company lifted its holdings in Enterprise Products Partners by 18.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 105,317 shares of the oil and gas producer’s stock valued at $2,578,000 after purchasing an additional 16,116 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Enterprise Products Partners by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 5,688,613 shares of the oil and gas producer’s stock valued at $139,257,000 after purchasing an additional 147,438 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in Enterprise Products Partners by 32.1% in the 1st quarter. Allianz Asset Management GmbH now owns 291,445 shares of the oil and gas producer’s stock valued at $7,135,000 after purchasing an additional 70,868 shares in the last quarter. Fisher Asset Management LLC purchased a new position in Enterprise Products Partners in the 2nd quarter valued at about $359,000. Finally, Capital Investment Advisors LLC lifted its holdings in Enterprise Products Partners by 7.5% in the 2nd quarter. Capital Investment Advisors LLC now owns 235,632 shares of the oil and gas producer’s stock valued at $6,520,000 after purchasing an additional 16,470 shares in the last quarter. Institutional investors own 36.37% of the company’s stock.
A number of research firms have issued reports on EPD. Bank of America upped their target price on shares of Enterprise Products Partners from $29.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Barclays upped their target price on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Scotiabank set a $33.00 price objective on shares of Enterprise Products Partners and gave the stock a “buy” rating in a report on Monday, August 20th. Zacks Investment Research lowered shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Friday, September 7th. Finally, Raymond James increased their price objective on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 4th. One analyst has rated the stock with a sell rating, one has given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Enterprise Products Partners currently has an average rating of “Buy” and a consensus target price of $32.83.
In related news, Director James T. Hackett sold 25,000 shares of the stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $26.94, for a total transaction of $673,500.00. Following the completion of the sale, the director now owns 226,832 shares of the company’s stock, valued at approximately $6,110,854.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 37.50% of the stock is currently owned by corporate insiders.
Shares of EPD stock opened at $27.05 on Tuesday. The stock has a market cap of $57.57 billion, a PE ratio of 20.49, a P/E/G ratio of 4.85 and a beta of 0.87. Enterprise Products Partners L.P. has a 1-year low of $23.10 and a 1-year high of $30.05. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.56 and a current ratio of 0.74.
Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.15. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.72 billion. Enterprise Products Partners had a net margin of 10.23% and a return on equity of 16.38%. The company’s revenue was up 39.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS. Analysts forecast that Enterprise Products Partners L.P. will post 1.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Wednesday, October 31st will be given a dividend of $0.4325 per share. This represents a $1.73 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date is Tuesday, October 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.43. Enterprise Products Partners’s dividend payout ratio is 131.06%.
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About Enterprise Products Partners
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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