Patten Group Inc. lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 213.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,637 shares of the oil and gas producer’s stock after buying an additional 11,335 shares during the period. Patten Group Inc.’s holdings in Enterprise Products Partners were worth $478,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Alps Advisors Inc. boosted its position in Enterprise Products Partners by 13.2% during the second quarter. Alps Advisors Inc. now owns 40,898,736 shares of the oil and gas producer’s stock valued at $1,084,226,000 after purchasing an additional 4,777,192 shares in the last quarter. Eqis Capital Management Inc. bought a new stake in Enterprise Products Partners during the second quarter valued at about $206,000. Aperio Group LLC boosted its position in Enterprise Products Partners by 93.0% during the second quarter. Aperio Group LLC now owns 52,398 shares of the oil and gas producer’s stock valued at $1,450,000 after purchasing an additional 25,246 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Enterprise Products Partners by 9.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,165,400 shares of the oil and gas producer’s stock valued at $32,247,000 after purchasing an additional 99,000 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Enterprise Products Partners by 31.9% during the second quarter. Victory Capital Management Inc. now owns 1,234,560 shares of the oil and gas producer’s stock valued at $34,160,000 after purchasing an additional 298,740 shares in the last quarter. Institutional investors and hedge funds own 37.32% of the company’s stock.
NYSE EPD traded down $0.61 during trading on Thursday, hitting $25.60. The company’s stock had a trading volume of 2,181,395 shares, compared to its average volume of 5,167,213. 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 cap of $56.64 billion, a PE ratio of 19.39, a P/E/G ratio of 4.67 and a beta of 0.88. 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 issued its quarterly earnings results 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 business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.72 billion. Enterprise Products Partners had a return on equity of 16.28% and a net margin of 10.23%. The company’s quarterly revenue was up 39.2% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 1.87 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Wednesday, October 31st were issued a $0.4325 dividend. This represents a $1.73 annualized dividend and a yield of 6.76%. The ex-dividend date of this dividend was 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 (DPR) is currently 131.06%.
In other news, CEO Aj Teague bought 15,005 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The stock was purchased at an average price of $26.32 per share, with a total value of $394,931.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James T. Hackett sold 25,000 shares of Enterprise Products Partners stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $26.94, for a total value of $673,500.00. Following the sale, the director now directly owns 226,832 shares of the company’s stock, valued at approximately $6,110,854.08. The disclosure for this sale can be found here. 37.50% of the stock is currently owned by company insiders.
A number of equities research 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 report on Thursday, November 1st. Wells Fargo & Co reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 31st. Barclays set a $33.00 price objective on Enterprise Products Partners and gave the company a “buy” rating in a research report on Friday, October 12th. Zacks Investment Research raised Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Thursday, September 6th. Finally, Scotiabank set a $33.00 price objective on Enterprise Products Partners and gave the company a “buy” rating in a research report on Monday, August 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $32.75.
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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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