Evanson Asset Management LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,682 shares of the oil and gas producer’s stock after selling 558 shares during the period. Evanson Asset Management LLC’s holdings in Enterprise Products Partners were worth $2,474,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Covenant Asset Management LLC boosted its holdings in Enterprise Products Partners by 0.5% in the first quarter. Covenant Asset Management LLC now owns 70,064 shares of the oil and gas producer’s stock valued at $2,039,000 after purchasing an additional 345 shares in the last quarter. Campbell Capital Management Inc. boosted its holdings in Enterprise Products Partners by 1.4% in the first quarter. Campbell Capital Management Inc. now owns 25,500 shares of the oil and gas producer’s stock valued at $742,000 after purchasing an additional 350 shares in the last quarter. Riverstone Advisors LLC boosted its holdings in Enterprise Products Partners by 4.2% in the first quarter. Riverstone Advisors LLC now owns 10,008 shares of the oil and gas producer’s stock valued at $291,000 after purchasing an additional 400 shares in the last quarter. Toth Financial Advisory Corp boosted its holdings in Enterprise Products Partners by 5.8% in the first quarter. Toth Financial Advisory Corp now owns 7,412 shares of the oil and gas producer’s stock valued at $216,000 after purchasing an additional 408 shares in the last quarter. Finally, Archford Capital Strategies LLC boosted its holdings in Enterprise Products Partners by 5.8% in the first quarter. Archford Capital Strategies LLC now owns 7,539 shares of the oil and gas producer’s stock valued at $219,000 after purchasing an additional 413 shares in the last quarter. Hedge funds and other institutional investors own 36.68% of the company’s stock.
In related news, Director Murray E. Brasseux purchased 5,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $30.00 per share, for a total transaction 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 $536,550. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 37.50% of the stock is owned by corporate insiders.Shares of EPD stock traded up $0.56 during trading hours on Friday, hitting $28.42. The stock had a trading volume of 3,633,700 shares, compared to its average volume of 3,922,242. The firm has a market capitalization of $60.99 billion, a PE ratio of 14.65, a PEG ratio of 3.22 and a beta of 0.88. 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 $29.52 and its 200 day moving average is $28.84. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.00 and a quick ratio of 0.58.
Enterprise Products Partners (NYSE:EPD) last posted 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. 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 the consensus estimate of $8.57 billion. During the same period in the prior year, the company earned $0.31 earnings per share. The company’s revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.16 earnings per share for the current year.
The business also recently declared 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. This represents a $1.76 annualized dividend and a dividend yield of 6.19%. The ex-dividend date was Tuesday, July 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio is 90.72%.
A number of brokerages recently issued reports on EPD. ValuEngine downgraded Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Piper Jaffray Companies began coverage on Enterprise Products Partners in a report on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price target for the company. Stifel Nicolaus upped 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 began 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. One analyst has rated the stock with a sell rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $33.69.
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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