Intersect Capital LLC lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,053 shares of the oil and gas producer’s stock after acquiring an additional 3,209 shares during the period. Intersect Capital LLC’s holdings in Enterprise Products Partners were worth $1,116,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its position in shares of Enterprise Products Partners by 7,151.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 14,503 shares of the oil and gas producer’s stock worth $414,000 after purchasing an additional 14,303 shares during the period. Taylor Hoffman Wealth Management purchased a new position in Enterprise Products Partners in the 3rd quarter worth approximately $53,000. Whitnell & Co. lifted its holdings in Enterprise Products Partners by 13.4% in the 3rd quarter. Whitnell & Co. now owns 16,896 shares of the oil and gas producer’s stock worth $483,000 after purchasing an additional 2,000 shares in the last quarter. Delta Investment Management LLC purchased a new position in Enterprise Products Partners in the 3rd quarter worth approximately $4,372,000. Finally, Doliver Advisors LP raised its holdings in shares of Enterprise Products Partners by 1.2% during the 3rd quarter. Doliver Advisors LP now owns 56,967 shares of the oil and gas producer’s stock worth $1,577,000 after acquiring an additional 700 shares in the last quarter. 36.77% of the stock is owned by institutional investors.
EPD has been the topic of several recent research reports. Scotia Howard Weill initiated coverage on Enterprise Products Partners in a report on Wednesday, September 4th. They set an “outperform” rating on the stock. ValuEngine cut Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Scotiabank initiated coverage on Enterprise Products Partners in a report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective on the stock. Royal Bank of Canada initiated coverage on Enterprise Products Partners in a report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective on the stock. Finally, Piper Jaffray Companies initiated coverage on Enterprise Products Partners in a report on Wednesday, July 17th. They set an “overweight” rating and a $37.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $33.50.
Shares of EPD traded down $0.28 during mid-day trading on Monday, hitting $26.05. 4,445,850 shares of the stock were exchanged, compared to its average volume of 4,044,088. The company has a market cap of $58.34 billion, a PE ratio of 13.43, a price-to-earnings-growth 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 firm has a 50-day moving average of $27.64 and a two-hundred day moving average of $28.61. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.75 and a current ratio of 1.00.
Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, October 28th. The oil and gas producer reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.05). Enterprise Products Partners had a net margin of 14.07% and a return on equity of 19.78%. The company had revenue of $7.96 billion for the quarter, compared to analysts’ expectations of $8.97 billion. During the same quarter in the previous year, the company posted $0.60 EPS. The business’s quarterly revenue was down 16.9% on a year-over-year basis. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.19 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be issued a dividend of $0.4425 per share. This represents a $1.77 annualized dividend and a yield of 6.79%. The ex-dividend date is Wednesday, October 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio is presently 91.24%.
Enterprise Products Partners 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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