SG Americas Securities LLC Trims Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

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SG Americas Securities LLC lowered its position in Enterprise Products Partners L.P. (NYSE:EPD) by 22.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 240,451 shares of the oil and gas producer’s stock after selling 70,630 shares during the period. SG Americas Securities LLC’s holdings in Enterprise Products Partners were worth $6,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EPD. Mcmillion Capital Management Inc. acquired a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $29,000. TCI Wealth Advisors Inc. grew its holdings in Enterprise Products Partners by 400.0% during the third quarter. TCI Wealth Advisors Inc. now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 800 shares during the period. D Orazio & Associates Inc. acquired a new position in Enterprise Products Partners during the third quarter worth $30,000. Centersquare Investment Management LLC acquired a new position in Enterprise Products Partners during the second quarter worth $34,000. Finally, TRUE Private Wealth Advisors acquired a new position in Enterprise Products Partners during the second quarter worth $41,000. Institutional investors own 36.77% of the company’s stock.

EPD traded down $0.10 during trading on Friday, reaching $26.33. 4,099,607 shares of the stock were exchanged, compared to its average volume of 4,042,235. The business’s 50 day moving average price is $27.64 and its two-hundred day moving average price is $28.61. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.00 and a quick ratio of 0.75. The company has a market capitalization of $58.34 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 3.05 and a beta of 0.87. Enterprise Products Partners L.P. has a 1 year low of $23.33 and a 1 year high of $30.86.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, October 28th. The oil and gas producer reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.05). The firm had revenue of $7.96 billion for the quarter, compared to analysts’ expectations of $8.97 billion. Enterprise Products Partners had a return on equity of 19.78% and a net margin of 14.07%. The firm’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.19 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders 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 yield of 6.72%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, October 30th. Enterprise Products Partners’s payout ratio is presently 91.24%.

A number of research analysts recently weighed in on the company. Zacks Investment Research lowered Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Monday, August 26th. ValuEngine lowered Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Scotia Howard Weill assumed coverage on Enterprise Products Partners in a report on Wednesday, September 4th. They set an “outperform” rating on the stock. Piper Jaffray Companies assumed coverage on Enterprise Products Partners in a report on Wednesday, July 17th. They set an “overweight” rating and a $37.00 price objective on the stock. Finally, Stifel Nicolaus upped their price objective on Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. Enterprise Products Partners has an average rating of “Buy” and an average target price of $33.50.

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.

See Also: Catch-Up Contributions

Want to see what other hedge funds are holding EPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enterprise Products Partners L.P. (NYSE:EPD).

Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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