Oxbow Advisors LLC cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 885,282 shares of the oil and gas producer’s stock after selling 22,170 shares during the quarter. Enterprise Products Partners accounts for about 3.1% of Oxbow Advisors LLC’s portfolio, making the stock its 3rd largest holding. Oxbow Advisors LLC’s holdings in Enterprise Products Partners were worth $25,434,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Roanoke Asset Management Corp NY raised its position in shares of Enterprise Products Partners by 9.0% in the 2nd quarter. Roanoke Asset Management Corp NY now owns 44,778 shares of the oil and gas producer’s stock valued at $1,239,000 after buying an additional 3,697 shares in the last quarter. Tiedemann Advisors LLC increased its position in Enterprise Products Partners by 4.0% during the 2nd quarter. Tiedemann Advisors LLC now owns 1,878,970 shares of the oil and gas producer’s stock worth $51,991,000 after purchasing an additional 73,047 shares in the last quarter. Centaurus Financial Inc. acquired a new position in Enterprise Products Partners during the 2nd quarter worth approximately $847,000. Mainstay Capital Management LLC ADV increased its position in Enterprise Products Partners by 553.4% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,534 shares of the oil and gas producer’s stock worth $228,000 after purchasing an additional 5,534 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its position in Enterprise Products Partners by 3.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 655,807 shares of the oil and gas producer’s stock worth $18,146,000 after purchasing an additional 21,910 shares in the last quarter. Institutional investors own 36.37% of the company’s stock.
In other Enterprise Products Partners news, Director James T. Hackett sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $26.94, for a total transaction of $673,500.00. Following the sale, the director now directly owns 226,832 shares of the company’s stock, valued at approximately $6,110,854.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 37.50% of the company’s stock.
EPD opened at $27.27 on Friday. Enterprise Products Partners L.P. has a fifty-two week low of $23.10 and a fifty-two week high of $30.05. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.56 and a current ratio of 0.74. The company has a market cap of $58.63 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 4.83 and a beta of 0.87.
Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.60 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.72 billion. During the same period in the previous year, the firm posted $0.28 EPS. The company’s revenue for the quarter was up 39.2% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners L.P. will post 1.87 EPS for the current fiscal year.
The firm also recently announced 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 dividend on an annualized basis and a yield of 6.34%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Tuesday, October 30th. Enterprise Products Partners’s payout ratio is presently 131.06%.
A number of equities analysts recently issued reports on EPD shares. Bank of America set a $35.00 price objective on shares of Enterprise Products Partners and gave the stock a “buy” rating in a research report on Thursday, November 1st. ValuEngine upgraded shares of Enterprise Products Partners from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. SunTrust Banks set a $33.00 price objective on shares of Enterprise Products Partners and gave the stock a “buy” rating in a research report on Monday, July 23rd. Wells Fargo & Co upped their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, October 8th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a research report on Friday, July 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Enterprise Products Partners presently has an average rating of “Buy” and an average price target of $32.83.
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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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