AllSquare Wealth Management LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,800 shares of the oil and gas producer’s stock after selling 500 shares during the quarter. AllSquare Wealth Management LLC’s holdings in Enterprise Products Partners were worth $312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Neuberger Berman Group LLC lifted its stake in shares of Enterprise Products Partners by 4.6% in the 1st quarter. Neuberger Berman Group LLC now owns 19,942,261 shares of the oil and gas producer’s stock valued at $580,320,000 after purchasing an additional 884,418 shares during the last quarter. BlackRock Inc. lifted its position in shares of Enterprise Products Partners by 10.9% in the first quarter. BlackRock Inc. now owns 16,970,293 shares of the oil and gas producer’s stock worth $493,835,000 after buying an additional 1,665,379 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Enterprise Products Partners by 27.6% in the first quarter. Wells Fargo & Company MN now owns 6,200,604 shares of the oil and gas producer’s stock worth $180,437,000 after buying an additional 1,341,023 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Enterprise Products Partners by 2.0% during the 1st quarter. Raymond James & Associates now owns 4,163,211 shares of the oil and gas producer’s stock worth $121,149,000 after acquiring an additional 81,504 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its stake in shares of Enterprise Products Partners by 6.9% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 2,911,325 shares of the oil and gas producer’s stock worth $84,050,000 after acquiring an additional 189,050 shares in the last quarter. 37.23% of the stock is owned by institutional investors and hedge funds.
In related news, Director Murray E. Brasseux acquired 5,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $30.00 per share, with a total value of $150,000.00. Following the completion of the transaction, the director now owns 17,885 shares of the company’s stock, valued at $536,550. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 37.50% of the stock is currently owned by corporate insiders.
A number of research analysts recently weighed in on the company. Piper Jaffray Companies started coverage on Enterprise Products Partners in a research note on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price objective on the stock. ValuEngine downgraded Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Scotia Howard Weill assumed coverage on Enterprise Products Partners in a report on Wednesday, September 4th. They set an “outperform” rating on the stock. Zacks Investment Research lowered shares of Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research report on Monday, August 26th. Finally, Stifel Nicolaus boosted their price objective on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $33.71.
EPD traded up $0.35 during midday trading on Monday, reaching $28.71. The company’s stock had a trading volume of 72,457 shares, compared to its average volume of 2,988,630. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 1.06. The company has a fifty day simple moving average of $29.02 and a 200 day simple moving average of $28.88. The stock has a market cap of $62.42 billion, a P/E ratio of 14.81, a PEG ratio of 3.27 and a beta of 0.87. Enterprise Products Partners L.P. has a twelve month low of $23.33 and a twelve month high of $30.86.
Enterprise Products Partners (NYSE:EPD) last released its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The firm had revenue of $8.28 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Enterprise Products Partners had a net margin of 14.26% and a return on equity of 20.02%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.44 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date was Tuesday, July 30th. This represents a $1.76 annualized dividend and a dividend yield of 6.13%. Enterprise Products Partners’s payout ratio is presently 90.72%.
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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