Smithbridge Asset Management Inc. DE boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 78,714 shares of the oil and gas producer’s stock after acquiring an additional 1,775 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Enterprise Products Partners were worth $2,272,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in EPD. Neuberger Berman Group LLC raised its stake in Enterprise Products Partners by 4.6% during the first quarter. Neuberger Berman Group LLC now owns 19,942,261 shares of the oil and gas producer’s stock worth $580,320,000 after acquiring an additional 884,418 shares during the period. BlackRock Inc. raised its stake in Enterprise Products Partners by 10.9% during the first quarter. BlackRock Inc. now owns 16,970,293 shares of the oil and gas producer’s stock worth $493,835,000 after acquiring an additional 1,665,379 shares during the period. Chickasaw Capital Management LLC raised its stake in Enterprise Products Partners by 3.4% during the first quarter. Chickasaw Capital Management LLC now owns 11,752,297 shares of the oil and gas producer’s stock worth $341,992,000 after acquiring an additional 391,329 shares during the period. Deutsche Bank AG raised its stake in Enterprise Products Partners by 71.9% during the fourth quarter. Deutsche Bank AG now owns 11,279,445 shares of the oil and gas producer’s stock worth $277,359,000 after acquiring an additional 4,719,647 shares during the period. Finally, Bank of Montreal Can raised its stake in Enterprise Products Partners by 86.9% during the first quarter. Bank of Montreal Can now owns 8,937,630 shares of the oil and gas producer’s stock worth $260,084,000 after acquiring an additional 4,156,710 shares during the period. 36.68% of the stock is owned by institutional investors.
In other news, Director Murray E. Brasseux bought 5,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $30.00 per share, for a total transaction of $150,000.00. Following the purchase, the director now owns 17,885 shares of the company’s stock, valued at approximately $536,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 37.50% of the company’s stock.
Shares of NYSE:EPD traded up $0.56 during mid-day trading on Friday, hitting $28.42. The stock had a trading volume of 3,645,129 shares, compared to its average volume of 3,996,822. Enterprise Products Partners L.P. has a 12-month low of $23.33 and a 12-month high of $30.86. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.58 and a current ratio of 1.00. The company has a market cap of $62.18 billion, a PE ratio of 14.65, a P/E/G ratio of 3.28 and a beta of 0.88. The company’s 50 day moving average is $29.52 and its 200-day moving average is $28.84.
Enterprise Products Partners (NYSE:EPD) last released its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. Enterprise Products Partners had a net margin of 14.26% and a return on equity of 20.02%. The company had revenue of $8.28 billion during the quarter, compared to the consensus estimate of $8.57 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.16 EPS for the current fiscal year.
The firm 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 is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $1.76 annualized dividend and a dividend yield of 6.19%. Enterprise Products Partners’s dividend payout ratio is 90.72%.
Several research analysts have commented on the stock. Piper Jaffray Companies assumed coverage on shares of Enterprise Products Partners in a research report on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 target price for the company. Johnson Rice assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, May 30th. They issued a “buy” rating and a $35.00 target price for the company. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, ValuEngine cut shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Enterprise Products Partners has an average rating of “Buy” and an average target price of $33.57.
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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