Providence Capital Advisors LLC boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,498 shares of the oil and gas producer’s stock after buying an additional 1,010 shares during the quarter. Providence Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $1,314,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in EPD. Hilton Capital Management LLC grew its position in Enterprise Products Partners by 16.1% during the 1st quarter. Hilton Capital Management LLC now owns 774,156 shares of the oil and gas producer’s stock worth $22,528,000 after purchasing an additional 107,426 shares during the period. Capital Advisors Inc. OK boosted its stake in shares of Enterprise Products Partners by 7.1% in the second quarter. Capital Advisors Inc. OK now owns 21,418 shares of the oil and gas producer’s stock worth $618,000 after buying an additional 1,418 shares during the last quarter. Commonwealth Bank of Australia grew its holdings in Enterprise Products Partners by 25.5% during the first quarter. Commonwealth Bank of Australia now owns 58,717 shares of the oil and gas producer’s stock worth $1,708,000 after acquiring an additional 11,921 shares during the period. Cornerstone Wealth Management LLC grew its holdings in Enterprise Products Partners by 71.6% during the second quarter. Cornerstone Wealth Management LLC now owns 12,395 shares of the oil and gas producer’s stock worth $357,000 after acquiring an additional 5,171 shares during the period. Finally, Smithbridge Asset Management Inc. DE grew its holdings in Enterprise Products Partners by 2.3% during the second quarter. Smithbridge Asset Management Inc. DE now owns 78,714 shares of the oil and gas producer’s stock worth $2,272,000 after acquiring an additional 1,775 shares during the period. Institutional investors and hedge funds own 37.23% of the company’s stock.
NYSE:EPD traded up $0.19 during trading hours on Wednesday, reaching $28.90. 119,328 shares of the company were exchanged, compared to its average volume of 2,971,175. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 1.06. The firm has a market cap of $63.22 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 3.30 and a beta of 0.87. Enterprise Products Partners L.P. has a twelve month low of $23.33 and a twelve month high of $30.86. The stock’s 50-day moving average is $28.88 and its 200-day moving average is $28.88.
Enterprise Products Partners (NYSE:EPD) last released its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $8.28 billion during 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 company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 earnings per share. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.44 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.76 annualized dividend and a yield of 6.09%. The ex-dividend date was Tuesday, July 30th. Enterprise Products Partners’s payout ratio is 90.72%.
A number of research analysts have issued reports on EPD shares. Johnson Rice assumed coverage on Enterprise Products Partners in a report on Thursday, May 30th. They issued a “buy” rating and a $35.00 price target for the company. Royal Bank of Canada assumed coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective on the stock. ValuEngine lowered shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Scotia Howard Weill started coverage on shares of Enterprise Products Partners in a report on Wednesday, September 4th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $33.71.
In other news, Director Murray E. Brasseux bought 5,000 shares of Enterprise Products Partners stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $30.00 per share, with a total value of $150,000.00. Following the completion of the acquisition, the director now directly owns 17,885 shares of the company’s stock, valued at $536,550. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 37.50% of the stock is currently owned by insiders.
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.
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