Hamlin Capital Management LLC Buys 89,987 Shares of Enterprise Products Partners L.P. $EPD

Hamlin Capital Management LLC boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 4,995,047 shares of the oil and gas producer’s stock after acquiring an additional 89,987 shares during the quarter. Enterprise Products Partners comprises 3.6% of Hamlin Capital Management LLC’s investment portfolio, making the stock its 18th largest position. Hamlin Capital Management LLC’s holdings in Enterprise Products Partners were worth $154,896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Per Stirling Capital Management LLC. lifted its position in Enterprise Products Partners by 1.5% in the 1st quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer’s stock valued at $804,000 after acquiring an additional 339 shares in the last quarter. Tranquility Partners LLC increased its stake in Enterprise Products Partners by 1.4% in the 2nd quarter. Tranquility Partners LLC now owns 23,944 shares of the oil and gas producer’s stock valued at $743,000 after buying an additional 339 shares during the last quarter. Sound Income Strategies LLC increased its stake in Enterprise Products Partners by 2.1% in the 2nd quarter. Sound Income Strategies LLC now owns 16,796 shares of the oil and gas producer’s stock valued at $521,000 after buying an additional 340 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Enterprise Products Partners by 1.8% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,353 shares of the oil and gas producer’s stock valued at $600,000 after buying an additional 347 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Enterprise Products Partners by 1.2% in the 1st quarter. Russell Investments Group Ltd. now owns 32,403 shares of the oil and gas producer’s stock valued at $1,106,000 after buying an additional 372 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Down 0.1%

Enterprise Products Partners stock opened at $30.21 on Friday. The firm has a market capitalization of $65.42 billion, a PE ratio of 11.23, a P/E/G ratio of 2.15 and a beta of 0.64. The company’s 50-day moving average is $31.52 and its 200-day moving average is $31.28. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week 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 data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 7.2%. Enterprise Products Partners’s dividend payout ratio is 81.04%.

Analyst Ratings Changes

EPD has been the topic of several recent research reports. Stifel Nicolaus lowered their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Scotiabank lowered their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, September 19th. TD Cowen initiated coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They issued a “hold” rating and a $33.00 price target on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Finally, Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $35.82.

Insider Transactions at Enterprise Products Partners

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

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.