SeaBridge Investment Advisors LLC lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 58,644 shares of the oil and gas producer’s stock after selling 966 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $1,415,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Financial Architects Inc grew its stake in Enterprise Products Partners by 4.9% in the 2nd quarter. Financial Architects Inc now owns 9,838 shares of the oil and gas producer’s stock valued at $237,000 after buying an additional 456 shares during the last quarter. Dynamic Advisor Solutions LLC increased its stake in shares of Enterprise Products Partners by 46.6% during the second quarter. Dynamic Advisor Solutions LLC now owns 51,834 shares of the oil and gas producer’s stock worth $1,251,000 after purchasing an additional 16,485 shares during the period. Brighton Jones LLC lifted its holdings in Enterprise Products Partners by 9.0% during the 2nd quarter. Brighton Jones LLC now owns 13,086 shares of the oil and gas producer’s stock worth $316,000 after purchasing an additional 1,075 shares during the last quarter. National Asset Management Inc. boosted its stake in Enterprise Products Partners by 1.3% in the 2nd quarter. National Asset Management Inc. now owns 131,599 shares of the oil and gas producer’s stock valued at $3,176,000 after purchasing an additional 1,687 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Enterprise Products Partners by 6.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 391,092 shares of the oil and gas producer’s stock valued at $9,437,000 after buying an additional 25,100 shares in the last quarter. 28.80% of the stock is owned by institutional investors and hedge funds.
In other Enterprise Products Partners news, Director John R. Rutherford bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 26th. The shares were bought at an average price of $22.19 per share, for a total transaction of $221,900.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 37.50% of the company’s stock.
Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, July 28th. The oil and gas producer reported $0.50 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. Enterprise Products Partners had a return on equity of 18.26% and a net margin of 11.80%. The business had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $7.79 billion. During the same period in the prior year, the business posted $0.47 earnings per share. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 12th. Shareholders of record on Friday, July 30th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, July 29th. This represents a $1.80 dividend on an annualized basis and a yield of 8.09%. Enterprise Products Partners’s payout ratio is currently 85.31%.
Several research firms recently commented on EPD. Wells Fargo & Company upped their price target on shares of Enterprise Products Partners from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, June 24th. Raymond James raised their target price on shares of Enterprise Products Partners from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a report on Wednesday, July 21st. Finally, Morgan Stanley dropped their price target on Enterprise Products Partners from $33.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, August 26th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $26.20.
Enterprise Products Partners Company Profile
Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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