Smithbridge Asset Management Inc. DE increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 3.0% during the third quarter, Holdings Channel reports. The firm owned 81,054 shares of the oil and gas producer’s stock after purchasing an additional 2,340 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Enterprise Products Partners were worth $2,317,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in EPD. Mcmillion Capital Management Inc. bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth approximately $29,000. Centersquare Investment Management LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth approximately $34,000. TRUE Private Wealth Advisors bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth approximately $41,000. TCG Advisors LP raised its holdings in shares of Enterprise Products Partners by 40.0% in the 2nd quarter. TCG Advisors LP now owns 2,100 shares of the oil and gas producer’s stock worth $61,000 after purchasing an additional 600 shares in the last quarter. Finally, Ashburton Jersey Ltd bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth approximately $63,000. Institutional investors and hedge funds own 36.67% of the company’s stock.
A number of analysts recently commented on EPD shares. ValuEngine downgraded shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Piper Jaffray Companies initiated coverage on shares of Enterprise Products Partners in a report on Wednesday, July 17th. They set an “overweight” rating and a $37.00 price target on the stock. Royal Bank of Canada initiated coverage on shares of Enterprise Products Partners in a report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price target on the stock. Scotiabank initiated coverage on shares of Enterprise Products Partners in a report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price target on the stock. Finally, Stifel Nicolaus boosted their price target on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. Enterprise Products Partners presently has an average rating of “Buy” and an average price target of $33.45.
Enterprise Products Partners stock traded up $0.10 during trading hours on Tuesday, hitting $27.68. The company had a trading volume of 2,798,987 shares, compared to its average volume of 4,624,236. The firm has a market capitalization of $60.37 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 3.16 and a beta of 0.87. 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 firm’s fifty day moving average is $28.39 and its 200-day moving average is $28.89. Enterprise Products Partners L.P. has a fifty-two week low of $23.33 and a fifty-two week high of $30.86.
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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The firm had revenue of $8.28 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. Analysts anticipate that Enterprise Products Partners L.P. will post 2.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st will be paid a $0.4425 dividend. This represents a $1.77 annualized dividend and a yield of 6.39%. The ex-dividend date is Wednesday, October 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio is currently 90.72%.
In related news, Director Murray E. Brasseux acquired 5,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $30.00 per share, for a total transaction of $150,000.00. Following the purchase, the director now owns 17,885 shares in the company, valued at $536,550. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 37.50% of the stock is currently owned by corporate 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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