Hamlin Capital Management LLC Has $154.90 Million Position in Enterprise Products Partners L.P. $EPD

Hamlin Capital Management LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,995,047 shares of the oil and gas producer’s stock after purchasing an additional 89,987 shares during the period. Enterprise Products Partners accounts for 3.6% of Hamlin Capital Management LLC’s portfolio, making the stock its 18th largest position. Hamlin Capital Management LLC owned 0.23% of Enterprise Products Partners worth $154,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of EPD. Brighton Jones LLC increased its holdings in shares of Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after purchasing an additional 5,425 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Enterprise Products Partners by 4.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,116,068 shares of the oil and gas producer’s stock valued at $38,103,000 after purchasing an additional 47,784 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Enterprise Products Partners by 3.5% in the first quarter. Cornerstone Wealth Management LLC now owns 23,791 shares of the oil and gas producer’s stock valued at $812,000 after purchasing an additional 813 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in shares of Enterprise Products Partners by 3.3% in the first quarter. CWA Asset Management Group LLC now owns 27,748 shares of the oil and gas producer’s stock valued at $947,000 after purchasing an additional 889 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in shares of Enterprise Products Partners by 14.1% in the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,817 shares of the oil and gas producer’s stock valued at $778,000 after purchasing an additional 2,820 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Scotiabank lowered their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, September 19th. Morgan Stanley reduced their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. TD Cowen started coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They issued a “hold” rating and a $33.00 price objective on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus reduced their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

Insiders Place Their Bets

In other news, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction dated Tuesday, July 29th. The shares were bought at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the transaction, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. This trade represents a 10.45% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William C. Montgomery acquired 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost of $31.55 per share, for a total transaction 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 represents a 13.23% increase in their position. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company’s stock.

Enterprise Products Partners Trading Down 0.1%

Shares of NYSE EPD opened at $30.21 on Friday. The company’s fifty day moving average is $31.52 and its 200-day moving average is $31.28. The stock has a market cap of $65.42 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 2.15 and a beta of 0.64. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04.

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

Enterprise Products Partners Dividend Announcement

The company 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. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.04%.

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.