FinTrust Capital Advisors LLC cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 44.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,386 shares of the oil and gas producer’s stock after selling 1,917 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $69,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of EPD. Mcmillion Capital Management Inc. bought a new position in shares of Enterprise Products Partners during the second quarter worth about $29,000. TRUE Private Wealth Advisors bought a new position in shares of Enterprise Products Partners during the second quarter worth about $41,000. Knuff & Co LLC bought a new position in shares of Enterprise Products Partners during the first quarter worth about $42,000. Tompkins Financial Corp raised its position in shares of Enterprise Products Partners by 163.8% during the first quarter. Tompkins Financial Corp now owns 1,530 shares of the oil and gas producer’s stock worth $44,000 after acquiring an additional 950 shares during the last quarter. Finally, TCG Advisors LP bought a new position in shares of Enterprise Products Partners during the first quarter worth about $44,000. Hedge funds and other institutional investors own 36.68% of the company’s stock.
A number of brokerages have recently issued reports on EPD. ValuEngine downgraded Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Piper Jaffray Companies began coverage on Enterprise Products Partners in a research report on Wednesday, July 17th. They set an “overweight” rating and a $37.00 price objective for the company. Stifel Nicolaus raised their price objective on Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Johnson Rice began coverage on Enterprise Products Partners in a research report on Thursday, May 30th. They set a “buy” rating and a $35.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $33.57.
EPD stock traded up $0.56 during mid-day trading on Friday, reaching $28.42. The company’s stock had a trading volume of 3,633,700 shares, compared to its average volume of 4,053,690. The company has a market cap of $61.12 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 3.23 and a beta of 0.88. The business’s 50 day moving average price is $29.52 and its 200 day moving average price is $28.84. The company has a current ratio of 1.00, a quick ratio of 0.58 and a debt-to-equity ratio of 1.06. Enterprise Products Partners L.P. has a 12 month low of $23.33 and a 12 month high of $30.86.
Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. The business had revenue of $8.28 billion during the quarter, compared to the consensus estimate of $8.57 billion. Enterprise Products Partners had a return on equity of 20.02% and a net margin of 14.26%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Wednesday, July 31st were issued a $0.44 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.76 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date was Tuesday, July 30th. Enterprise Products Partners’s payout ratio is presently 90.72%.
In other Enterprise Products Partners news, Director Murray E. Brasseux bought 5,000 shares of the stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $30.00 per share, for a total transaction of $150,000.00. Following the completion of the acquisition, the director now owns 17,885 shares in the company, valued at approximately $536,550. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 37.50% of the company’s stock.
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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