Biegel & Waller LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,147 shares of the oil and gas producer’s stock, valued at approximately $204,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mcmillion Capital Management Inc. acquired a new stake in Enterprise Products Partners in the second quarter valued at $29,000. Centersquare Investment Management LLC acquired a new stake in Enterprise Products Partners in the second quarter valued at $34,000. TRUE Private Wealth Advisors acquired a new stake in Enterprise Products Partners in the second quarter valued at $41,000. TCG Advisors LP increased its holdings in Enterprise Products Partners by 40.0% in the second quarter. TCG Advisors LP now owns 2,100 shares of the oil and gas producer’s stock valued at $61,000 after purchasing an additional 600 shares during the period. Finally, Ashburton Jersey Ltd acquired a new stake in Enterprise Products Partners in the second quarter valued at $63,000. Institutional investors and hedge funds own 36.67% of the company’s stock.
A number of research firms recently weighed in on EPD. Piper Jaffray Companies initiated coverage on Enterprise Products Partners in a report on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price objective for the company. ValuEngine downgraded Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Stifel Nicolaus increased their price target on Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Monday, August 26th. Finally, Scotiabank initiated coverage on Enterprise Products Partners in a report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company’s stock. Enterprise Products Partners presently has a consensus rating of “Buy” and an average target price of $33.45.
Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. The company had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.57 billion. Enterprise Products Partners had a net margin of 14.26% and a return on equity of 20.02%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 EPS. Analysts anticipate that Enterprise Products Partners L.P. will post 2.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.4425 per share. This represents a $1.77 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date is Wednesday, October 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio is 90.72%.
In related news, Director Murray E. Brasseux acquired 5,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $30.00 per share, with a total value of $150,000.00. Following the transaction, the director now directly owns 17,885 shares of the company’s stock, valued at $536,550. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 37.50% of the stock is owned by corporate insiders.
About Enterprise Products Partners
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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