Reaves W H & Co. Inc. raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.5% in the third quarter, HoldingsChannel reports. The firm owned 1,651,050 shares of the oil and gas producer’s stock after purchasing an additional 8,000 shares during the period. Enterprise Products Partners comprises 1.6% of Reaves W H & Co. Inc.’s portfolio, making the stock its 22nd largest holding. Reaves W H & Co. Inc.’s holdings in Enterprise Products Partners were worth $47,435,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tompkins Financial Corp grew its holdings in shares of Enterprise Products Partners by 150.3% during the second quarter. Tompkins Financial Corp now owns 3,830 shares of the oil and gas producer’s stock valued at $106,000 after buying an additional 2,300 shares during the last quarter. Stelac Advisory Services LLC purchased a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $109,000. Poehling Capital Management LLC purchased a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $111,000. Arlington Partners LLC purchased a new stake in shares of Enterprise Products Partners during the third quarter valued at approximately $115,000. Finally, Horrell Capital Management Inc. purchased a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $122,000. 36.32% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on the stock. ValuEngine cut shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Wells Fargo & Co increased their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, November 1st. Bank of America set a $35.00 price target on shares of Enterprise Products Partners and gave the company a “buy” rating in a report on Thursday, November 1st. Barclays set a $33.00 price target on shares of Enterprise Products Partners and gave the company a “buy” rating in a report on Friday, October 12th. Finally, Credit Suisse Group assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 11th. They set an “outperform” rating and a $36.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $32.83.
In other Enterprise Products Partners news, insider W Randall Fowler purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, November 13th. The shares were acquired at an average price of $26.19 per share, for a total transaction of $261,900.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James T. Hackett sold 25,000 shares of Enterprise Products Partners 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 transaction, the director now owns 226,832 shares in the company, valued at approximately $6,110,854.08. The disclosure for this sale can be found here. Company insiders own 37.50% of the company’s stock.
Shares of EPD stock opened at $26.38 on Wednesday. Enterprise Products Partners L.P. has a 12-month low of $23.10 and a 12-month high of $30.05. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.70. The company has a market capitalization of $57.59 billion, a P/E ratio of 19.98, a P/E/G ratio of 4.75 and a beta of 0.87.
Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.15. Enterprise Products Partners had a net margin of 10.23% and a return on equity of 16.28%. The company had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.72 billion. During the same quarter last year, the company posted $0.28 earnings per share. The firm’s quarterly revenue was up 39.2% on a year-over-year basis. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 1.87 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Wednesday, October 31st were issued a $0.4325 dividend. The ex-dividend date was Tuesday, October 30th. This represents a $1.73 annualized dividend and a yield of 6.56%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.43. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 131.06%.
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Enterprise Products Partners Company 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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