Bank of Stockton bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,544 shares of the oil and gas producer’s stock, valued at approximately $245,000.
A number of other hedge funds also recently bought and sold shares of the stock. Glenview Trust Co lifted its stake in Enterprise Products Partners by 18.5% in the 2nd quarter. Glenview Trust Co now owns 11,109 shares of the oil and gas producer’s stock valued at $307,000 after buying an additional 1,735 shares in the last quarter. Gilman Hill Asset Management LLC raised its holdings in Enterprise Products Partners by 1.3% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 140,292 shares of the oil and gas producer’s stock valued at $3,882,000 after acquiring an additional 1,755 shares during the last quarter. Central Bank & Trust Co. raised its holdings in Enterprise Products Partners by 7.3% in the 2nd quarter. Central Bank & Trust Co. now owns 26,826 shares of the oil and gas producer’s stock valued at $742,000 after acquiring an additional 1,826 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Enterprise Products Partners by 6.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 30,863 shares of the oil and gas producer’s stock valued at $854,000 after acquiring an additional 1,849 shares during the last quarter. Finally, Tocqueville Asset Management L.P. raised its holdings in Enterprise Products Partners by 9.4% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 22,711 shares of the oil and gas producer’s stock valued at $628,000 after acquiring an additional 1,950 shares during the last quarter. 36.41% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have weighed in on EPD shares. ValuEngine upgraded Enterprise Products Partners from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. SunTrust Banks set a $33.00 price target on Enterprise Products Partners and gave the company a “buy” rating in a report on Monday, July 23rd. Wells Fargo & Co upped their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday. BMO Capital Markets restated a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a report on Friday, July 13th. Finally, Mitsubishi UFJ Financial Group upped their price objective on Enterprise Products Partners to $35.00 and gave the stock an “overweight” rating in a report on Thursday, August 2nd. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $32.50.
Shares of EPD stock opened at $29.21 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a one year low of $23.10 and a one year high of $30.05. The stock has a market cap of $62.09 billion, a PE ratio of 22.13, a P/E/G ratio of 5.71 and a beta of 0.91.
Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, August 1st. The oil and gas producer reported $0.46 EPS for the quarter, topping the consensus estimate of $0.39 by $0.07. The business had revenue of $8.47 billion for the quarter, compared to analysts’ expectations of $8.55 billion. Enterprise Products Partners had a net margin of 8.95% and a return on equity of 14.42%. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 earnings per share. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 1.68 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Wednesday, October 31st will be paid a dividend of $0.4325 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.43. This represents a $1.73 annualized dividend and a yield of 5.92%. Enterprise Products Partners’s dividend payout ratio is 130.30%.
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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