Buckingham Asset Management LLC boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 16.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,882 shares of the oil and gas producer’s stock after buying an additional 9,100 shares during the period. Buckingham Asset Management LLC’s holdings in Enterprise Products Partners were worth $1,844,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Usca Ria LLC acquired a new position in shares of Enterprise Products Partners during the second quarter valued at $15,738,000. Gamco Investors INC. ET AL acquired a new position in shares of Enterprise Products Partners during the second quarter valued at $2,327,000. Cornerstone Wealth Management LLC increased its holdings in shares of 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 valued at $357,000 after purchasing an additional 5,171 shares during the period. F3Logic LLC increased its holdings in shares of Enterprise Products Partners by 359.3% during the second quarter. F3Logic LLC now owns 43,155 shares of the oil and gas producer’s stock valued at $1,246,000 after purchasing an additional 33,760 shares during the period. Finally, Bingham Osborn & Scarborough LLC increased its holdings in shares of Enterprise Products Partners by 2.1% during the second quarter. Bingham Osborn & Scarborough LLC now owns 19,239 shares of the oil and gas producer’s stock valued at $555,000 after purchasing an additional 403 shares during the period. 36.52% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Murray E. Brasseux bought 5,000 shares of the firm’s stock in a transaction that occurred 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 purchase, the director now directly owns 17,885 shares of the company’s stock, valued at approximately $536,550. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 37.50% of the company’s stock.A number of research analysts have recently commented on EPD shares. Piper Jaffray Companies started coverage on Enterprise Products Partners in a report on Wednesday, July 17th. They set an “overweight” rating and a $37.00 price target on the stock. ValuEngine lowered Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Stifel Nicolaus raised their price target on Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Johnson Rice started coverage on Enterprise Products Partners in a report on Thursday, May 30th. They set a “buy” rating and a $35.00 price target on the stock. One research analyst has rated the stock with a sell rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $33.69.
Shares of EPD stock opened at $28.42 on Monday. The stock has a 50-day simple moving average of $29.52 and a 200 day simple moving average of $28.84. Enterprise Products Partners L.P. has a fifty-two week low of $23.33 and a fifty-two week high of $30.86. The stock has a market capitalization of $60.99 billion, a P/E ratio of 14.65, a P/E/G ratio of 3.22 and a beta of 0.88. The company has a quick ratio of 0.58, a current ratio of 1.00 and a debt-to-equity ratio of 1.06.
Enterprise Products Partners (NYSE:EPD) last announced its earnings results 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. Enterprise Products Partners had a return on equity of 20.02% and a net margin of 14.26%. The business had revenue of $8.28 billion during the quarter, compared to analysts’ expectations of $8.57 billion. During the same quarter last year, the business posted $0.31 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.16 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st were paid a dividend of $0.44 per share. The ex-dividend date was Tuesday, July 30th. This represents a $1.76 annualized dividend and a yield of 6.19%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 90.72%.
Enterprise Products Partners 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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