Main Street Research LLC Buys Shares of 10,680 Enterprise Products Partners L.P. (EPD)

Main Street Research LLC bought a new stake in shares of 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 bought 10,680 shares of the oil and gas producer’s stock, valued at approximately $307,000.

A number of other hedge funds have also added to or reduced their stakes in EPD. The Manufacturers Life Insurance Company lifted its position in shares of 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 acquiring an additional 16,116 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of 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 acquiring an additional 147,438 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of 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 acquiring an additional 70,868 shares in the last quarter. Fisher Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at approximately $359,000. Finally, Capital Investment Advisors LLC lifted its position in shares of 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 acquiring an additional 16,470 shares in the last quarter. 36.37% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently commented on the stock. Bank of America upped their price target on shares of Enterprise Products Partners from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. Barclays upped their price target on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Scotiabank set a $33.00 price target on shares of Enterprise Products Partners and gave the company a “buy” rating in a research report on Monday, August 20th. Zacks Investment Research downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Finally, Raymond James upped their price target on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Enterprise Products Partners has a consensus rating of “Buy” and a consensus target price of $32.83.

Enterprise Products Partners stock opened at $27.04 on Wednesday. The company has a market capitalization of $57.57 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 4.85 and a beta of 0.87. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a twelve month low of $23.10 and a twelve month high of $30.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.15. The firm 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 for the quarter was up 39.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 EPS. Equities research analysts forecast that Enterprise Products Partners L.P. will post 1.87 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Wednesday, October 31st will be paid a $0.4325 dividend. This represents a $1.73 annualized dividend and a yield of 6.40%. The ex-dividend date is Tuesday, October 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.43. Enterprise Products Partners’s dividend payout ratio is currently 131.06%.

In other Enterprise Products Partners news, Director James T. Hackett sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $26.94, for a total value of $673,500.00. Following the transaction, the director now owns 226,832 shares in the company, valued at approximately $6,110,854.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 37.50% of the stock is currently owned by corporate insiders.

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

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