Fmr LLC lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,273,589 shares of the oil and gas producer’s stock after selling 1,249,471 shares during the period. Fmr LLC owned about 0.48% of Enterprise Products Partners worth $295,160,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Tiedemann Advisors LLC grew its holdings in shares of Enterprise Products Partners by 4.0% in the 2nd quarter. Tiedemann Advisors LLC now owns 1,878,970 shares of the oil and gas producer’s stock valued at $51,991,000 after acquiring an additional 73,047 shares in the last quarter. Valley National Advisers Inc. grew its holdings in shares of Enterprise Products Partners by 49.5% in the 3rd quarter. Valley National Advisers Inc. now owns 20,717 shares of the oil and gas producer’s stock valued at $595,000 after acquiring an additional 6,861 shares in the last quarter. Centaurus Financial Inc. bought a new position in shares of Enterprise Products Partners in the 2nd quarter valued at about $847,000. Baldwin Brothers Inc. MA grew its holdings in shares of Enterprise Products Partners by 3.2% in the 3rd quarter. Baldwin Brothers Inc. MA now owns 392,421 shares of the oil and gas producer’s stock valued at $11,274,000 after acquiring an additional 12,337 shares in the last quarter. Finally, Mainstay Capital Management LLC ADV grew its holdings in shares of Enterprise Products Partners by 553.4% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,534 shares of the oil and gas producer’s stock valued at $228,000 after acquiring an additional 5,534 shares in the last quarter. Hedge funds and other institutional investors own 37.32% of the company’s stock.
Shares of NYSE:EPD opened at $26.25 on Monday. 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 capitalization of $56.73 billion, a P/E ratio of 15.17, a PEG ratio of 4.67 and a beta of 0.88. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.70 and a quick ratio of 0.49.
Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.15. Enterprise Products Partners had a net margin of 10.23% and a return on equity of 16.28%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.72 billion. During the same period last year, the business posted $0.28 EPS. Enterprise Products Partners’s revenue was up 39.2% on a year-over-year basis. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 1.87 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Wednesday, October 31st were given a dividend of $0.4325 per share. 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. This represents a $1.73 annualized dividend and a yield of 6.59%. Enterprise Products Partners’s dividend payout ratio (DPR) is 131.06%.
Several brokerages have recently weighed in on EPD. Citigroup decreased their price objective on Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating for the company in a report on Thursday. Mizuho began coverage on Enterprise Products Partners in a report on Wednesday, November 28th. They issued a “buy” rating and a $33.00 price objective for the company. ValuEngine cut Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Wells Fargo & Co raised their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, November 1st. Finally, Bank of America set a $35.00 price objective on Enterprise Products Partners and gave the company a “buy” rating in a report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $32.75.
In other Enterprise Products Partners news, Director James T. Hackett sold 25,000 shares of the firm’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 completion of the sale, the director now directly 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 hyperlink. Also, insider W Randall Fowler acquired 10,000 shares of the business’s stock in a transaction on Tuesday, November 13th. The shares were bought at an average price of $26.19 per share, with a total value of $261,900.00. The disclosure for this purchase can be found here. Company insiders own 37.50% of the company’s stock.
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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