Private Capital Advisors Inc. boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 8.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 273,699 shares of the oil and gas producer’s stock after purchasing an additional 20,752 shares during the quarter. Enterprise Products Partners comprises about 2.4% of Private Capital Advisors Inc.’s portfolio, making the stock its 11th biggest holding. Private Capital Advisors Inc.’s holdings in Enterprise Products Partners were worth $7,135,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Private Capital Group LLC lifted its position in shares of Enterprise Products Partners by 46,766.7% during the 1st quarter. Private Capital Group LLC now owns 4,218 shares of the oil and gas producer’s stock valued at $103,000 after acquiring an additional 4,209 shares during the period. Tompkins Financial Corp lifted its position in shares of Enterprise Products Partners by 150.3% during the 2nd quarter. Tompkins Financial Corp now owns 3,830 shares of the oil and gas producer’s stock valued at $106,000 after acquiring an additional 2,300 shares during the period. Stelac Advisory Services LLC bought a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $109,000. Poehling Capital Management LLC bought a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $111,000. Finally, Horrell Capital Management Inc. bought a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $122,000. Institutional investors and hedge funds own 36.41% of the company’s stock.
In other news, CEO Aj Teague bought 3,390 shares of the stock in a transaction on Thursday, August 2nd. The stock was acquired at an average price of $29.48 per share, with a total value of $99,937.20. Following the acquisition, the chief executive officer now directly owns 1,616,790 shares in the company, valued at $47,662,969.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 37.50% of the stock is currently owned by insiders.
Shares of Enterprise Products Partners stock traded up $0.02 during trading on Friday, reaching $28.50. 6,119,900 shares of the company’s stock were exchanged, compared to its average volume of 5,046,297. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.56 and a current ratio of 0.74. Enterprise Products Partners L.P. has a 1-year low of $23.10 and a 1-year high of $30.05. The stock has a market capitalization of $62.09 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 5.71 and a beta of 0.91.
Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, August 1st. The oil and gas producer reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. Enterprise Products Partners had a return on equity of 14.42% and a net margin of 8.95%. The company had revenue of $8.47 billion during the quarter, compared to analysts’ expectations of $8.55 billion. During the same quarter in the previous year, the firm earned $0.30 EPS. Enterprise Products Partners’s revenue was up 28.1% on a year-over-year basis. On average, research analysts forecast that Enterprise Products Partners L.P. will post 1.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Wednesday, October 31st will be issued a dividend of $0.4325 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 6.07%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.43. Enterprise Products Partners’s payout ratio is 130.30%.
A number of research firms have recently weighed in on EPD. Barclays set a $33.00 target price on Enterprise Products Partners and gave the company a “buy” rating in a research report on Friday. Zacks Investment Research downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Stifel Nicolaus upped their target price on Enterprise Products Partners from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. ValuEngine downgraded Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Finally, Credit Suisse Group began coverage on Enterprise Products Partners in a research report on Thursday. They set an “outperform” rating and a $36.00 target price for the company. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $32.47.
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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