Signaturefd LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 20.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,446 shares of the oil and gas producer’s stock after selling 2,646 shares during the period. Signaturefd LLC’s holdings in Enterprise Products Partners were worth $302,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in EPD. Bank of Montreal Can raised its holdings in shares of Enterprise Products Partners by 86.9% during the 1st quarter. Bank of Montreal Can now owns 8,937,630 shares of the oil and gas producer’s stock valued at $260,084,000 after buying an additional 4,156,710 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Enterprise Products Partners by 10.9% during the 1st quarter. BlackRock Inc. now owns 16,970,293 shares of the oil and gas producer’s stock valued at $493,835,000 after buying an additional 1,665,379 shares in the last quarter. Wells Fargo & Company MN increased its stake in Enterprise Products Partners by 27.6% in the 1st quarter. Wells Fargo & Company MN now owns 6,200,604 shares of the oil and gas producer’s stock worth $180,437,000 after purchasing an additional 1,341,023 shares during the period. Ronna Sue Cohen increased its stake in Enterprise Products Partners by 2,830.8% in the 1st quarter. Ronna Sue Cohen now owns 1,312,120 shares of the oil and gas producer’s stock worth $1,312,000 after purchasing an additional 1,267,350 shares during the period. Finally, Neuberger Berman Group LLC increased its stake in Enterprise Products Partners by 4.6% in the 1st quarter. Neuberger Berman Group LLC now owns 19,942,261 shares of the oil and gas producer’s stock worth $580,320,000 after purchasing an additional 884,418 shares during the period. 36.68% of the stock is currently owned by institutional investors.
Shares of EPD traded down $0.31 during mid-day trading on Wednesday, hitting $28.03. 54,820 shares of the company’s stock traded hands, compared to its average volume of 4,011,782. The company has a quick ratio of 0.58, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a 1 year low of $23.33 and a 1 year high of $30.86. The stock has a market cap of $62.20 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 3.28 and a beta of 0.88. The business has a 50-day simple moving average of $29.57.
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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Enterprise Products Partners had a return on equity of 20.20% and a net margin of 14.26%. The firm had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.57 billion. During the same period in the previous year, the firm earned $0.31 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st were paid a dividend of $0.44 per share. The ex-dividend date was Tuesday, July 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.76 annualized dividend and a dividend yield of 6.28%. Enterprise Products Partners’s payout ratio is 90.72%.
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, with a total value of $150,000.00. Following the completion of the purchase, the director now 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 can be accessed through the SEC website. 37.50% of the stock is currently owned by insiders.
A number of equities analysts have commented on the company. ValuEngine cut Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Stifel Nicolaus lifted their price target on Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Jaffray Companies assumed coverage on Enterprise Products Partners in a research note on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price target on the stock. Finally, Johnson Rice assumed coverage on Enterprise Products Partners in a research note on Thursday, May 30th. They issued a “buy” rating and a $35.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Enterprise Products Partners currently has an average rating of “Buy” and an average price target of $33.57.
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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