Violich Capital Management Inc. Has $474,000 Stake in Enterprise Products Partners L.P. $EPD

Violich Capital Management Inc. decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 14.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,300 shares of the oil and gas producer’s stock after selling 2,500 shares during the period. Violich Capital Management Inc.’s holdings in Enterprise Products Partners were worth $474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of EPD. Diversified Trust Co grew its holdings in Enterprise Products Partners by 13.7% during the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock worth $516,000 after acquiring an additional 1,821 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Enterprise Products Partners by 7.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer’s stock worth $4,703,000 after acquiring an additional 9,979 shares during the period. Aurora Private Wealth Inc. grew its holdings in Enterprise Products Partners by 3,044.1% during the 1st quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer’s stock worth $6,853,000 after acquiring an additional 194,336 shares during the period. Forbes J M & Co. LLP acquired a new stake in Enterprise Products Partners during the 1st quarter worth $290,000. Finally, Corigliano Investment Advisers LLC acquired a new stake in Enterprise Products Partners during the 1st quarter worth $4,384,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the subject of a number of analyst reports. Barclays lowered their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. TD Cowen started coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They set a “hold” rating and a $33.00 price target on the stock. Finally, Scotiabank cut their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, September 19th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.82.

Insider Activity

In other news, Director John R. Rutherford acquired 15,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were bought at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the purchase, the director directly owned 158,586 shares of the company’s stock, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William C. Montgomery acquired 16,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the purchase, the director directly owned 136,920 shares in the company, valued at $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Trading Down 0.1%

EPD opened at $30.21 on Friday. The firm’s fifty day simple moving average is $31.52 and its 200 day simple moving average is $31.26. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63. The stock has a market capitalization of $65.42 billion, a P/E ratio of 11.23, a P/E/G ratio of 2.15 and a beta of 0.64.

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

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders 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 annualized dividend and a yield of 7.2%. Enterprise Products Partners’s payout ratio is 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.