Janney Montgomery Scott LLC Has $13.92 Million Holdings in Enterprise Products Partners L.P. (EPD)

Janney Montgomery Scott LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 484,461 shares of the oil and gas producer’s stock after selling 12,333 shares during the period. Janney Montgomery Scott LLC’s holdings in Enterprise Products Partners were worth $13,919,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of EPD. Tompkins Financial Corp increased its stake in Enterprise Products Partners by 150.3% in the 2nd quarter. Tompkins Financial Corp now owns 3,830 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 2,300 shares in the last quarter. Stelac Advisory Services LLC purchased a new stake in Enterprise Products Partners in the 2nd quarter worth $109,000. Poehling Capital Management LLC purchased a new stake in Enterprise Products Partners in the 2nd quarter worth $111,000. Arlington Partners LLC purchased a new stake in Enterprise Products Partners in the 3rd quarter worth $115,000. Finally, Horrell Capital Management Inc. purchased a new stake in Enterprise Products Partners in the 2nd quarter worth $122,000. Institutional investors and hedge funds own 36.37% of the company’s stock.

EPD opened at $27.27 on Friday. Enterprise Products Partners L.P. has a 52 week low of $23.10 and a 52 week high of $30.05. The stock has a market cap of $58.63 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 4.83 and a beta of 0.87. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 1.00.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.60 EPS for the quarter, beating the consensus estimate of $0.45 by $0.15. Enterprise Products Partners had a net margin of 10.23% and a return on equity of 16.38%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.72 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. The business’s revenue was up 39.2% on a year-over-year basis. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 1.87 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Wednesday, October 31st were issued a dividend of $0.4325 per share. This represents a $1.73 annualized dividend and a dividend yield of 6.34%. The ex-dividend date was Tuesday, October 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.43. Enterprise Products Partners’s dividend payout ratio is 131.06%.

In related news, Director James T. Hackett sold 25,000 shares of the stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $26.94, for a total value of $673,500.00. Following the completion of the transaction, the director now owns 226,832 shares of the company’s stock, valued at approximately $6,110,854.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 37.50% of the stock is currently owned by company insiders.

A number of brokerages have issued reports on EPD. ValuEngine lowered Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Wells Fargo & Co increased their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, November 1st. Bank of America set a $35.00 price target on Enterprise Products Partners and gave the stock a “buy” rating in a research note on Thursday, November 1st. Barclays set a $33.00 price target on Enterprise Products Partners and gave the stock a “buy” rating in a research note on Friday, October 12th. Finally, Credit Suisse Group began coverage on Enterprise Products Partners in a research note on Thursday, October 11th. They issued an “outperform” rating and a $36.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $32.83.

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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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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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