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Aviance Capital Partners LLC Purchases 1,640 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

By September 6, 2019 No Comments

Aviance Capital Partners LLC grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,134 shares of the oil and gas producer’s stock after buying an additional 1,640 shares during the quarter. Aviance Capital Partners LLC’s holdings in Enterprise Products Partners were worth $1,130,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. Hilton Capital Management LLC grew its stake in Enterprise Products Partners by 16.1% in the 1st quarter. Hilton Capital Management LLC now owns 774,156 shares of the oil and gas producer’s stock valued at $22,528,000 after buying an additional 107,426 shares in the last quarter. Commonwealth Bank of Australia grew its stake in Enterprise Products Partners by 25.5% in the 1st quarter. Commonwealth Bank of Australia now owns 58,717 shares of the oil and gas producer’s stock valued at $1,708,000 after buying an additional 11,921 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in Enterprise Products Partners by 71.6% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 12,395 shares of the oil and gas producer’s stock valued at $357,000 after buying an additional 5,171 shares in the last quarter. Smithbridge Asset Management Inc. DE grew its stake in Enterprise Products Partners by 2.3% in the 2nd quarter. Smithbridge Asset Management Inc. DE now owns 78,714 shares of the oil and gas producer’s stock valued at $2,272,000 after buying an additional 1,775 shares in the last quarter. Finally, Ashburton Jersey Ltd purchased a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $63,000. 36.52% of the stock is currently owned by hedge funds and other institutional investors.

EPD has been the subject of a number of recent research reports. Scotia Howard Weill initiated coverage on shares of Enterprise Products Partners in a research note on Wednesday. They issued an “outperform” rating for the company. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research note on Tuesday. They issued an “outperform” rating and a $35.00 price objective for the company. Piper Jaffray Companies initiated coverage on shares of Enterprise Products Partners in a research note on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price objective for the company. ValuEngine lowered shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, Johnson Rice initiated coverage on shares of Enterprise Products Partners in a research note on Thursday, May 30th. They issued a “buy” rating and a $35.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $33.71.

EPD opened at $28.55 on Friday. The company has a fifty day moving average price of $29.05 and a 200-day moving average price of $28.88. The firm has a market capitalization of $63.09 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 3.24 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. Enterprise Products Partners L.P. has a one year low of $23.33 and a one year high of $30.86.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $8.28 billion during 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 business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 EPS. On average, analysts expect that Enterprise Products Partners L.P. will post 2.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st were given 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 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date of this dividend was Tuesday, July 30th. Enterprise Products Partners’s payout ratio is 90.72%.

In other news, Director Murray E. Brasseux purchased 5,000 shares of Enterprise Products Partners stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $30.00 per share, for a total transaction of $150,000.00. Following the transaction, the director now directly owns 17,885 shares of the company’s stock, valued at $536,550. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 37.50% of the stock is owned by insiders.

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

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