Commonwealth Equity Services LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 1.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 914,360 shares of the oil and gas producer’s stock after acquiring an additional 12,032 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Enterprise Products Partners were worth $24,093,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in EPD. Moneta Group Investment Advisors LLC lifted its position in Enterprise Products Partners by 104,195.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock worth $3,192,621,000 after acquiring an additional 132,237,142 shares during the period. Cowa LLC lifted its holdings in shares of Enterprise Products Partners by 9,906.0% in the 1st quarter. Cowa LLC now owns 7,753,281 shares of the oil and gas producer’s stock valued at $2,001,000 after buying an additional 7,675,795 shares during the period. Morgan Stanley lifted its holdings in shares of Enterprise Products Partners by 17.6% in the 4th quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock valued at $500,370,000 after buying an additional 3,102,695 shares during the period. ING Groep NV lifted its holdings in shares of Enterprise Products Partners by 6,088.4% in the 1st quarter. ING Groep NV now owns 2,661,000 shares of the oil and gas producer’s stock valued at $68,920,000 after buying an additional 2,618,000 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Enterprise Products Partners by 118.2% in the 1st quarter. Barclays PLC now owns 3,377,931 shares of the oil and gas producer’s stock valued at $87,488,000 after buying an additional 1,830,002 shares during the period. 26.54% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently commented on EPD shares. StockNews.com started coverage on Enterprise Products Partners in a report on Thursday, October 5th. They issued a “buy” rating for the company. Pickering Energy Partners started coverage on Enterprise Products Partners in a report on Tuesday, October 3rd. They issued an “outperform” rating for the company. Raymond James dropped their price objective on Enterprise Products Partners from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research note on Wednesday, November 1st. The Goldman Sachs Group started coverage on Enterprise Products Partners in a research note on Thursday, October 5th. They issued a “neutral” rating and a $28.00 price objective for the company. Finally, UBS Group dropped their price objective on Enterprise Products Partners from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, October 5th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average price target of $31.08.
Insider Activity at Enterprise Products Partners
In other news, Director John R. Rutherford bought 10,000 shares of Enterprise Products Partners stock in a transaction that occurred on Thursday, November 9th. The shares were purchased at an average price of $25.96 per share, for a total transaction of $259,600.00. Following the completion of the acquisition, the director now owns 137,423 shares of the company’s stock, valued at $3,567,501.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 32.60% of the stock is owned by insiders.
Enterprise Products Partners Price Performance
EPD stock opened at $26.26 on Tuesday. Enterprise Products Partners L.P. has a 52-week low of $23.14 and a 52-week high of $27.95. The stock’s fifty day simple moving average is $26.93 and its 200-day simple moving average is $26.53. The company has a quick ratio of 0.65, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $57.03 billion, a price-to-earnings ratio of 10.72 and a beta of 1.07.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last posted its quarterly earnings data on Tuesday, October 31st. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). Enterprise Products Partners had a return on equity of 19.32% and a net margin of 11.04%. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $11.08 billion. During the same quarter last year, the business earned $0.62 EPS. Enterprise Products Partners’s revenue for the quarter was down 22.4% compared to the same quarter last year. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.51 EPS for the current year.
Enterprise Products Partners Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.62%. The ex-dividend date was Monday, October 30th. Enterprise Products Partners’s payout ratio is currently 81.63%.
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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