North American Management Corp increased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 4.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 173,456 shares of the oil and gas producer’s stock after acquiring an additional 7,172 shares during the quarter. North American Management Corp’s holdings in Enterprise Products Partners were worth $5,008,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Comerica Securities Inc. boosted its stake in Enterprise Products Partners by 39.0% during the fourth quarter. Comerica Securities Inc. now owns 35,608 shares of the oil and gas producer’s stock worth $876,000 after acquiring an additional 9,990 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Enterprise Products Partners by 82.1% during the 4th quarter. Geode Capital Management LLC now owns 17,220 shares of the oil and gas producer’s stock worth $423,000 after buying an additional 7,766 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $902,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $11,529,000. Finally, Ipswich Investment Management Co. Inc. increased its position in shares of Enterprise Products Partners by 8.4% in the first quarter. Ipswich Investment Management Co. Inc. now owns 15,485 shares of the oil and gas producer’s stock valued at $451,000 after buying an additional 1,202 shares in the last quarter. Institutional investors own 36.61% of the company’s stock.
Enterprise Products Partners stock traded down $0.08 during midday trading on Friday, hitting $28.42. The stock had a trading volume of 2,925,709 shares, compared to its average volume of 3,942,389. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.58 and a current ratio of 0.77. The company has a market capitalization of $62.37 billion, a PE ratio of 14.65, a P/E/G ratio of 3.29 and a beta of 0.88. Enterprise Products Partners L.P. has a 12 month low of $23.33 and a 12 month high of $30.86. The business’s fifty day moving average is $29.64.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st will be issued a $0.44 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.76 annualized dividend and a yield of 6.19%. The ex-dividend date of this dividend is Tuesday, July 30th. Enterprise Products Partners’s payout ratio is currently 90.72%.
A number of analysts have recently commented on EPD shares. Johnson Rice assumed coverage on Enterprise Products Partners in a research report on Thursday, May 30th. They issued a “buy” rating and a $35.00 price objective for the company. ValuEngine lowered Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday. Piper Jaffray Companies assumed coverage on Enterprise Products Partners in a research note on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price target on the stock. Finally, Stifel Nicolaus lifted their price target on Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One 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. Enterprise Products Partners currently has an average rating of “Buy” and an average price target of $33.57.
In other news, Director Murray E. Brasseux acquired 5,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $30.00 per share, with a total value of $150,000.00. Following the completion of the acquisition, the director now directly owns 17,885 shares in the company, valued at $536,550. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 37.50% of the stock is owned by insiders.
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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