Orleans Capital Management Corp LA Sells 17,986 Shares of Enterprise Products Partners L.P. $EPD

Orleans Capital Management Corp LA lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 28.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 46,152 shares of the oil and gas producer’s stock after selling 17,986 shares during the quarter. Orleans Capital Management Corp LA’s holdings in Enterprise Products Partners were worth $1,443,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Winnow Wealth LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $28,000. Traub Capital Management LLC acquired a new stake in shares of Enterprise Products Partners during the second quarter worth $31,000. Abich Financial Wealth Management LLC bought a new position in Enterprise Products Partners during the third quarter worth $32,000. Financial Consulate Inc. bought a new position in Enterprise Products Partners during the third quarter worth $33,000. Finally, Davis Capital Management acquired a new position in Enterprise Products Partners in the third quarter valued at $45,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $37.60 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.60. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $37.77. The business has a 50-day simple moving average of $34.29 and a 200 day simple moving average of $32.57. The firm has a market capitalization of $81.28 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 2.65 and a beta of 0.59.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, beating the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The firm had revenue of $13.79 billion during the quarter, compared to the consensus estimate of $12.44 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a dividend of $0.55 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Friday, January 30th. Enterprise Products Partners’s dividend payout ratio is 82.71%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on EPD shares. Barclays increased their price target on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday. Wells Fargo & Company boosted their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Scotiabank restated a “sector perform” rating and set a $37.00 target price (up from $35.00) on shares of Enterprise Products Partners in a research report on Thursday, February 5th. Stifel Nicolaus lifted their target price on Enterprise Products Partners from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wolfe Research lowered Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price target on the stock. in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Hold” and an average price target of $36.29.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were bought at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the acquisition, the director directly owned 173,586 shares of the company’s stock, valued at approximately $5,570,374.74. The trade was a 9.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 32.60% of the stock is owned by corporate insiders.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.