Whitnell & Co. raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 13.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,896 shares of the oil and gas producer’s stock after buying an additional 2,000 shares during the quarter. Whitnell & Co.’s holdings in Enterprise Products Partners were worth $483,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of EPD. Invesco Ltd. raised its holdings in shares of Enterprise Products Partners by 3,750.3% in the 2nd quarter. Invesco Ltd. now owns 16,978,814 shares of the oil and gas producer’s stock worth $490,179,000 after purchasing an additional 16,537,844 shares during the period. Commonwealth Bank of Australia grew its holdings in Enterprise Products Partners by 4,745.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,845,253 shares of the oil and gas producer’s stock worth $82,134,000 after acquiring an additional 2,786,536 shares in the last quarter. Chickasaw Capital Management LLC grew its holdings in Enterprise Products Partners by 16.4% during the 3rd quarter. Chickasaw Capital Management LLC now owns 13,375,378 shares of the oil and gas producer’s stock worth $382,268,000 after acquiring an additional 1,880,501 shares in the last quarter. Morgan Stanley grew its holdings in Enterprise Products Partners by 9.4% during the 2nd quarter. Morgan Stanley now owns 21,438,384 shares of the oil and gas producer’s stock worth $618,927,000 after acquiring an additional 1,835,431 shares in the last quarter. Finally, Energy Income Partners LLC grew its holdings in Enterprise Products Partners by 6.6% during the 2nd quarter. Energy Income Partners LLC now owns 22,050,598 shares of the oil and gas producer’s stock worth $636,601,000 after acquiring an additional 1,366,532 shares in the last quarter. Institutional investors own 36.77% of the company’s stock.
Several brokerages recently issued reports on EPD. Scotia Howard Weill began coverage on shares of Enterprise Products Partners in a report on Wednesday, September 4th. They issued an “outperform” rating on the stock. Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Monday, August 26th. Royal Bank of Canada initiated coverage on shares of Enterprise Products Partners in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 target price on the stock. Finally, ValuEngine downgraded shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $33.50.
Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Monday, October 28th. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.05). Enterprise Products Partners had a return on equity of 19.78% and a net margin of 14.07%. The business had revenue of $7.96 billion for the quarter, compared to analysts’ expectations of $8.97 billion. During the same period in the prior year, the business posted $0.60 earnings per share. The business’s quarterly revenue was down 16.9% compared to the same quarter last year. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be given a dividend of $0.4425 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.77 dividend on an annualized basis and a yield of 6.72%. Enterprise Products Partners’s dividend payout ratio is 91.24%.
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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