Strategic Wealth Partners Ltd. trimmed its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 10.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,024 shares of the oil and gas producer’s stock after selling 2,311 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Enterprise Products Partners were worth $548,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Mcmillion Capital Management Inc. purchased a new position in shares of Enterprise Products Partners in the second quarter worth about $29,000. TRUE Private Wealth Advisors acquired a new position in shares of Enterprise Products Partners during the second quarter valued at $41,000. Knuff & Co LLC acquired a new position in shares of Enterprise Products Partners during the first quarter valued at $42,000. TCG Advisors LP acquired a new position in shares of Enterprise Products Partners during the first quarter valued at $44,000. Finally, Tompkins Financial Corp lifted its stake 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 valued at $44,000 after acquiring an additional 950 shares during the period. 36.52% of the stock is currently owned by institutional investors and hedge funds.
EPD has been the topic of several analyst reports. Stifel Nicolaus increased their target price on Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. 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 target price on the stock. ValuEngine downgraded Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, 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 target price on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Enterprise Products Partners currently has an average rating of “Buy” and an average target price of $33.75.
In other Enterprise Products Partners news, Director Murray E. Brasseux bought 5,000 shares of Enterprise Products Partners stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $30.00 per share, for a total transaction of $150,000.00. Following the acquisition, the director now directly owns 17,885 shares in the company, valued at approximately $536,550. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 37.50% of the company’s stock.
Shares of EPD stock traded down $0.80 during mid-day trading on Friday, reaching $28.16. 3,978,535 shares of the company’s stock traded hands, compared to its average volume of 4,171,815. Enterprise Products Partners L.P. has a 12 month low of $23.33 and a 12 month high of $30.86. The firm has a 50 day moving average price of $29.49 and a two-hundred day moving average price of $28.86. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.75 and a current ratio of 1.00. The firm has a market capitalization of $64.12 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 3.38 and a beta of 0.88.
Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. Enterprise Products Partners had a net margin of 14.26% and a return on equity of 20.02%. The firm had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.57 billion. During the same period in the previous year, the firm posted $0.31 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.16 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st were issued a $0.44 dividend. The ex-dividend date was Tuesday, July 30th. 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 dividend yield of 6.25%. Enterprise Products Partners’s payout ratio is 90.72%.
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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