Sippican Capital Advisors Acquires 650 Shares of Enterprise Products Partners L.P. $EPD

Sippican Capital Advisors lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 20,380 shares of the oil and gas producer’s stock after purchasing an additional 650 shares during the period. Sippican Capital Advisors’ holdings in Enterprise Products Partners were worth $632,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Alps Advisors Inc. grew its holdings in shares of Enterprise Products Partners by 5.0% during the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock worth $1,410,891,000 after purchasing an additional 1,967,188 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Enterprise Products Partners by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock worth $375,662,000 after purchasing an additional 457,045 shares during the last quarter. Chickasaw Capital Management LLC grew its holdings in shares of Enterprise Products Partners by 1.5% during the second quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock worth $171,022,000 after purchasing an additional 81,135 shares during the last quarter. BROOKFIELD Corp ON boosted its holdings in Enterprise Products Partners by 2.8% in the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock valued at $160,416,000 after acquiring an additional 128,545 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Enterprise Products Partners by 65.3% in the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock valued at $148,415,000 after acquiring an additional 1,717,768 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on EPD. Scotiabank decreased their price target on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, September 19th. TD Cowen began coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 price target on the stock. Morgan Stanley decreased their price target on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. Barclays decreased their price target on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, July 2nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus target price of $35.75.

Enterprise Products Partners Trading Down 1.5%

NYSE:EPD opened at $30.81 on Friday. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. The business’s 50-day moving average price is $31.58 and its two-hundred day moving average price is $31.38. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $66.70 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 2.19 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period in the previous year, the company posted $0.64 EPS. The company’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a dividend of $0.545 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.1%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.04%.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery purchased 16,000 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were bought at an average price of $31.55 per share, with a total value of $504,800.00. Following the completion of the transaction, the director directly owned 136,920 shares in the company, valued at $4,319,826. This trade represents a 13.23% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John R. Rutherford purchased 15,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the transaction, the director owned 158,586 shares of the company’s stock, valued at $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.60% 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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.