Argyll Research LLC decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 11.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 10,857,688 shares of the oil and gas producer’s stock after selling 1,430,369 shares during the period. Enterprise Products Partners makes up about 86.7% of Argyll Research LLC’s investment portfolio, making the stock its largest position. Argyll Research LLC owned 0.50% of Enterprise Products Partners worth $311,941,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of EPD. Alps Advisors Inc. lifted its position in shares of Enterprise Products Partners by 13.2% during the second quarter. Alps Advisors Inc. now owns 40,898,736 shares of the oil and gas producer’s stock worth $1,084,226,000 after acquiring an additional 4,777,192 shares in the last quarter. Eqis Capital Management Inc. purchased a new stake in shares of Enterprise Products Partners during the second quarter worth $206,000. Aperio Group LLC lifted its position in shares of Enterprise Products Partners by 93.0% during the second quarter. Aperio Group LLC now owns 52,398 shares of the oil and gas producer’s stock worth $1,450,000 after acquiring an additional 25,246 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Enterprise Products Partners by 9.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,165,400 shares of the oil and gas producer’s stock worth $32,247,000 after acquiring an additional 99,000 shares in the last quarter. Finally, First Midwest Bank Trust Division lifted its position in shares of Enterprise Products Partners by 68.8% during the second quarter. First Midwest Bank Trust Division now owns 16,783 shares of the oil and gas producer’s stock worth $465,000 after acquiring an additional 6,838 shares in the last quarter. Hedge funds and other institutional investors own 36.47% of the company’s stock.
EPD has been the topic of several recent research reports. Wells Fargo & Co increased their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, October 8th. Bank of America increased their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, October 15th. Zacks Investment Research upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Thursday, September 6th. Raymond James increased their target price on Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 4th. Finally, Goldman Sachs Group initiated coverage on Enterprise Products Partners in a research report on Monday, October 8th. They set a “neutral” rating and a $28.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus price target of $32.75.
Shares of EPD stock opened at $26.25 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. Enterprise Products Partners L.P. has a 52-week low of $23.10 and a 52-week high of $30.05. The firm has a market capitalization of $56.73 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 4.67 and a beta of 0.87.
Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.15. Enterprise Products Partners had a return on equity of 16.28% and a net margin of 10.23%. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.72 billion. During the same quarter last year, the business posted $0.28 earnings per share. The firm’s revenue was up 39.2% compared to the same quarter last year. On average, analysts predict that Enterprise Products Partners L.P. will post 1.87 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Wednesday, October 31st were given a $0.4325 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date of this dividend 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 (DPR) is 131.06%.
In related news, Director James T. Hackett sold 25,000 shares of the stock in a transaction on Monday, November 5th. The stock was sold at an average price of $26.94, for a total value of $673,500.00. Following the sale, the director now owns 226,832 shares in the company, valued at $6,110,854.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider W Randall Fowler acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, November 13th. The stock was acquired at an average price of $26.19 per share, for a total transaction of $261,900.00. The disclosure for this purchase can be found here. Company insiders own 37.50% of the company’s stock.
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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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