Sanders Morris Harris LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 741,305 shares of the oil and gas producer’s stock after purchasing an additional 22,779 shares during the period. Enterprise Products Partners accounts for approximately 3.2% of Sanders Morris Harris LLC’s portfolio, making the stock its 5th biggest position. Sanders Morris Harris LLC’s holdings in Enterprise Products Partners were worth $11,717,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of Enterprise Products Partners by 22.5% in the first quarter. Wellington Management Group LLP now owns 256,183 shares of the oil and gas producer’s stock worth $3,663,000 after buying an additional 46,997 shares during the last quarter. Gabelli Funds LLC acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth about $429,000. Advisors Asset Management Inc. lifted its position in shares of Enterprise Products Partners by 19.5% during the 1st quarter. Advisors Asset Management Inc. now owns 117,464 shares of the oil and gas producer’s stock worth $1,680,000 after purchasing an additional 19,141 shares during the last quarter. Procyon Private Wealth Partners LLC lifted its position in shares of Enterprise Products Partners by 24.3% during the 1st quarter. Procyon Private Wealth Partners LLC now owns 4,098 shares of the oil and gas producer’s stock worth $59,000 after purchasing an additional 800 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC lifted its position in shares of Enterprise Products Partners by 92.2% during the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 490,000 shares of the oil and gas producer’s stock worth $7,007,000 after purchasing an additional 235,000 shares during the last quarter. 32.49% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on EPD shares. Citigroup cut their price objective on Enterprise Products Partners from $31.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, July 2nd. Royal Bank of Canada reissued a “buy” rating and set a $28.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, August 6th. Piper Sandler cut their price objective on Enterprise Products Partners from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. SunTrust Banks boosted their price target on Enterprise Products Partners from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Wells Fargo & Company boosted their price target on Enterprise Products Partners from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $24.36.
Shares of EPD stock traded down $0.28 during trading hours on Friday, hitting $17.21. The company had a trading volume of 6,453,287 shares, compared to its average volume of 9,155,875. Enterprise Products Partners L.P. has a 12 month low of $10.27 and a 12 month high of $29.22. The firm has a market capitalization of $37.62 billion, a price-to-earnings ratio of 8.44 and a beta of 1.42. The firm’s fifty day moving average is $16.74 and its 200 day moving average is $17.55. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 0.95.
Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. Enterprise Products Partners had a return on equity of 18.06% and a net margin of 15.41%. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period in the prior year, the company posted $0.55 EPS. The company’s revenue was down 30.5% compared to the same quarter last year. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Friday, October 30th will be paid a $0.445 dividend. The ex-dividend date is Thursday, October 29th. This represents a $1.78 annualized dividend and a dividend yield of 10.34%. Enterprise Products Partners’s dividend payout ratio is currently 82.79%.
In related news, CEO Aj Teague acquired 10,000 shares of the stock in a transaction dated Tuesday, September 8th. The shares were bought at an average cost of $17.03 per share, for a total transaction of $170,300.00. Following the purchase, the chief executive officer now owns 1,958,357 shares in the company, valued at approximately $33,350,819.71. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders bought 35,000 shares of company stock worth $345,300. Corporate insiders own 37.50% of the company’s stock.
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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