Sippican Capital Advisors Has $632,000 Stock Position in Enterprise Products Partners L.P. $EPD

Sippican Capital Advisors grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.3% during the 2nd quarter, Holdings Channel reports. The firm owned 20,380 shares of the oil and gas producer’s stock after buying an additional 650 shares during the period. Sippican Capital Advisors’ holdings in Enterprise Products Partners were worth $632,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Diversified Trust Co increased its position in shares of 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 purchasing an additional 1,821 shares during the last quarter. Aurora Private Wealth Inc. increased its position in shares of 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 purchasing an additional 194,336 shares during the last quarter. Cyndeo Wealth Partners LLC increased its position in shares of Enterprise Products Partners by 20.0% during the 1st quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer’s stock worth $4,553,000 after purchasing an additional 22,202 shares during the last quarter. Forbes J M & Co. LLP acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $290,000. Finally, Corigliano Investment Advisers LLC bought a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $4,384,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. TD Cowen assumed coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a “hold” rating and a $33.00 target price for the company. Scotiabank reduced their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, September 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday. Finally, Morgan Stanley reduced their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Enterprise Products Partners Stock Performance

EPD opened at $30.81 on Friday. The business has a fifty day simple moving average of $31.58 and a 200 day simple moving average of $31.38. The company has a market capitalization of $66.70 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 2.19 and a beta of 0.64. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69.

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

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $0.545 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.18 annualized dividend and a yield of 7.1%. Enterprise Products Partners’s payout ratio is 81.04%.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director William C. Montgomery purchased 16,000 shares of Enterprise Products Partners stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the purchase, the director directly owned 136,920 shares of the company’s stock, valued at $4,319,826. This trade represents a 13.23% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average price of $31.35 per share, with a total value of $470,250.00. Following the completion of the purchase, 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 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 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.