Quadrant Private Wealth Management LLC Grows Holdings in Enterprise Products Partners L.P. (EPD)

Quadrant Private Wealth Management LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 7.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,476 shares of the oil and gas producer’s stock after purchasing an additional 3,496 shares during the quarter. Enterprise Products Partners makes up about 1.4% of Quadrant Private Wealth Management LLC’s investment portfolio, making the stock its 18th largest holding. Quadrant Private Wealth Management LLC’s holdings in Enterprise Products Partners were worth $1,397,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EPD. Roanoke Asset Management Corp NY boosted its holdings in shares of Enterprise Products Partners by 9.0% during the second quarter. Roanoke Asset Management Corp NY now owns 44,778 shares of the oil and gas producer’s stock valued at $1,239,000 after acquiring an additional 3,697 shares during the period. Baldwin Brothers Inc. MA boosted its holdings in shares of Enterprise Products Partners by 2.5% during the second quarter. Baldwin Brothers Inc. MA now owns 380,084 shares of the oil and gas producer’s stock valued at $10,517,000 after acquiring an additional 9,193 shares during the period. Douglas Lane & Associates LLC boosted its holdings in shares of Enterprise Products Partners by 17.0% during the second quarter. Douglas Lane & Associates LLC now owns 16,501 shares of the oil and gas producer’s stock valued at $457,000 after acquiring an additional 2,400 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in shares of Enterprise Products Partners by 8.1% during the second quarter. Cullen Frost Bankers Inc. now owns 105,726 shares of the oil and gas producer’s stock valued at $2,926,000 after acquiring an additional 7,934 shares during the period. Finally, Colorado Capital Management Inc. acquired a new position in shares of Enterprise Products Partners during the second quarter valued at $440,000. 36.59% of the stock is owned by hedge funds and other institutional investors.

Shares of Enterprise Products Partners opened at $29.60 on Friday, according to Marketbeat Ratings. Enterprise Products Partners L.P. has a fifty-two week low of $23.10 and a fifty-two week high of $30.05. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 1.00. The stock has a market cap of $63.77 billion, a P/E ratio of 19.41, a P/E/G ratio of 5.84 and a beta of 0.94.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, August 1st. The oil and gas producer reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. Enterprise Products Partners had a net margin of 8.95% and a return on equity of 14.42%. The business had revenue of $8.47 billion for the quarter, compared to analysts’ expectations of $8.55 billion. During the same period in the previous year, the business earned $0.30 earnings per share. The company’s revenue was up 28.1% on a year-over-year basis. analysts predict that Enterprise Products Partners L.P. will post 1.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 8th. Investors of record on Tuesday, July 31st were paid a dividend of $0.43 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.43. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date of this dividend was Monday, July 30th. Enterprise Products Partners’s payout ratio is currently 130.30%.

In related news, CEO Aj Teague acquired 3,390 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The shares were acquired at an average cost of $29.48 per share, for a total transaction of $99,937.20. Following the completion of the purchase, the chief executive officer now directly owns 1,616,790 shares in the company, valued at $47,662,969.20. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 37.50% of the stock is owned by insiders.

Several brokerages have recently issued reports on EPD. Bank of America boosted their price target on shares of Enterprise Products Partners from $29.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Barclays boosted their price target on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Stifel Nicolaus boosted their price target on shares of Enterprise Products Partners from $32.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Mitsubishi UFJ Financial Group boosted their price target on shares of Enterprise Products Partners to $35.00 and gave the company an “overweight” rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Enterprise Products Partners currently has an average rating of “Buy” and a consensus price target of $32.40.

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.

See Also: Closed-End Mutual Funds (CEFs)

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

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