QCI Asset Management Inc. NY lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1,959.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,768 shares of the oil and gas producer’s stock after buying an additional 12,148 shares during the period. QCI Asset Management Inc. NY’s holdings in Enterprise Products Partners were worth $367,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Roanoke Asset Management Corp NY increased its stake in Enterprise Products Partners by 9.0% in the 2nd quarter. Roanoke Asset Management Corp NY now owns 44,778 shares of the oil and gas producer’s stock valued at $1,239,000 after purchasing an additional 3,697 shares in the last quarter. Tiedemann Advisors LLC increased its stake in Enterprise Products Partners by 4.0% in the 2nd quarter. Tiedemann Advisors LLC now owns 1,878,970 shares of the oil and gas producer’s stock valued at $51,991,000 after purchasing an additional 73,047 shares in the last quarter. Centaurus Financial Inc. purchased a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $847,000. Mainstay Capital Management LLC ADV increased its stake in Enterprise Products Partners by 553.4% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,534 shares of the oil and gas producer’s stock valued at $228,000 after purchasing an additional 5,534 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its stake in Enterprise Products Partners by 3.5% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 655,807 shares of the oil and gas producer’s stock valued at $18,146,000 after purchasing an additional 21,910 shares in the last quarter. 36.37% of the stock is owned by hedge funds and other institutional investors.
In other Enterprise Products Partners news, Director James T. Hackett sold 25,000 shares of the stock in a transaction on Monday, November 5th. The stock was sold at an average price of $26.94, for a total transaction of $673,500.00. Following the sale, the director now owns 226,832 shares in the company, valued at approximately $6,110,854.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. 37.50% of the stock is currently owned by corporate insiders.
Shares of NYSE:EPD opened at $27.27 on Friday. The firm has a market cap of $58.63 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 4.83 and a beta of 0.87. 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 L.P. has a one year low of $23.10 and a one year high of $30.05.
Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.15. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.72 billion. Enterprise Products Partners had a return on equity of 16.38% and a net margin of 10.23%. Enterprise Products Partners’s quarterly revenue was up 39.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. As a group, 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 announced a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Wednesday, October 31st were issued a dividend of $0.4325 per share. This represents a $1.73 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date was Tuesday, October 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.43. Enterprise Products Partners’s dividend payout ratio is 131.06%.
Several equities analysts recently weighed in on EPD shares. Bank of America set a $35.00 price objective on Enterprise Products Partners and gave the company a “buy” rating in a research note on Thursday, November 1st. ValuEngine raised Enterprise Products Partners from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. SunTrust Banks set a $33.00 price objective on Enterprise Products Partners and gave the company a “buy” rating in a research note on Monday, July 23rd. Wells Fargo & Co raised their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 8th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research note on Friday, July 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $32.83.
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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.
Further Reading: Cost of Capital
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