Dividend Assets Capital LLC lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,821,589 shares of the oil and gas producer’s stock after selling 146,964 shares during the period. Enterprise Products Partners accounts for approximately 6.7% of Dividend Assets Capital LLC’s holdings, making the stock its 3rd largest position. Dividend Assets Capital LLC owned about 0.08% of Enterprise Products Partners worth $52,334,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of EPD. Tompkins Financial Corp boosted its holdings in shares of Enterprise Products Partners by 150.3% during the second quarter. Tompkins Financial Corp now owns 3,830 shares of the oil and gas producer’s stock worth $106,000 after acquiring an additional 2,300 shares during the period. Stelac Advisory Services LLC bought a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $109,000. Poehling Capital Management LLC bought a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $111,000. Arlington Partners LLC bought a new stake in shares of Enterprise Products Partners during the third quarter worth approximately $115,000. Finally, Horrell Capital Management Inc. bought a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $122,000. Institutional investors and hedge funds own 36.37% of the company’s stock.
In other Enterprise Products Partners news, Director James T. Hackett sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $26.94, for a total transaction of $673,500.00. Following the completion of the transaction, the director now directly owns 226,832 shares in the company, valued at $6,110,854.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 37.50% of the stock is owned by insiders.
Shares of EPD opened at $27.04 on Wednesday. Enterprise Products Partners L.P. has a one year low of $23.10 and a one year high of $30.05. The company has a market cap of $57.57 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 4.85 and a beta of 0.87. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.56.
Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.60 EPS for the quarter, beating the consensus estimate of $0.45 by $0.15. Enterprise Products Partners had a net margin of 10.23% and a return on equity of 16.38%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.72 billion. During the same period in the previous year, the business earned $0.28 earnings per share. The company’s revenue was up 39.2% on a year-over-year basis. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 1.87 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.4325 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.43. This represents a $1.73 annualized dividend and a yield of 6.40%. The ex-dividend date of this dividend is Tuesday, October 30th. Enterprise Products Partners’s payout ratio is currently 131.06%.
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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