Strategic Wealth Advisors Group LLC reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 14.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 18,746 shares of the oil and gas producer’s stock after selling 3,106 shares during the quarter. Strategic Wealth Advisors Group LLC’s holdings in Enterprise Products Partners were worth $535,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mcmillion Capital Management Inc. acquired a new position in shares of Enterprise Products Partners during the second quarter worth about $29,000. TCI Wealth Advisors Inc. grew its position in shares of Enterprise Products Partners by 400.0% during the third quarter. TCI Wealth Advisors Inc. now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 800 shares in the last quarter. D Orazio & Associates Inc. acquired a new position in shares of Enterprise Products Partners during the third quarter worth about $30,000. Centersquare Investment Management LLC acquired a new position in shares of Enterprise Products Partners during the second quarter worth about $34,000. Finally, TRUE Private Wealth Advisors acquired a new position in shares of Enterprise Products Partners during the second quarter worth about $41,000. 36.77% of the stock is owned by institutional investors.
EPD has been the subject of a number of analyst reports. Scotiabank initiated coverage on Enterprise Products Partners in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective for the company. ValuEngine downgraded Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Scotia Howard Weill initiated coverage on Enterprise Products Partners in a research report on Wednesday, September 4th. They set an “outperform” rating for the company. Piper Jaffray Companies initiated coverage on Enterprise Products Partners in a research report on Wednesday, July 17th. They set an “overweight” rating and a $37.00 price objective for the company. Finally, Stifel Nicolaus boosted their price objective on Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $33.50.
EPD stock traded down $0.10 during trading on Friday, hitting $26.33. 4,099,607 shares of the company’s stock were exchanged, compared to its average volume of 4,042,235. The business has a 50-day moving average price of $27.64 and a two-hundred day moving average price of $28.61. The stock has a market capitalization of $58.34 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 3.05 and a beta of 0.87. Enterprise Products Partners L.P. has a 52-week low of $23.33 and a 52-week high of $30.86. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 1.06.
Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, October 28th. The oil and gas producer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.05). The business had revenue of $7.96 billion for the quarter, compared to analysts’ expectations of $8.97 billion. Enterprise Products Partners had a return on equity of 19.78% and a net margin of 14.07%. Enterprise Products Partners’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 EPS. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.19 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be paid a dividend of $0.4425 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, October 30th. This represents a $1.77 annualized dividend and a yield of 6.72%. Enterprise Products Partners’s payout ratio is presently 91.24%.
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. 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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