SG Americas Securities LLC lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 22.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 240,451 shares of the oil and gas producer’s stock after selling 70,630 shares during the quarter. SG Americas Securities LLC’s holdings in Enterprise Products Partners were worth $6,872,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in EPD. Invesco Ltd. lifted its holdings in shares of Enterprise Products Partners by 3,750.3% in the second quarter. Invesco Ltd. now owns 16,978,814 shares of the oil and gas producer’s stock worth $490,179,000 after buying an additional 16,537,844 shares in the last quarter. Commonwealth Bank of Australia increased its position in Enterprise Products Partners by 4,745.7% during the second quarter. Commonwealth Bank of Australia now owns 2,845,253 shares of the oil and gas producer’s stock valued at $82,134,000 after acquiring an additional 2,786,536 shares during the last quarter. Chickasaw Capital Management LLC boosted its stake in shares of Enterprise Products Partners by 16.4% during the third quarter. Chickasaw Capital Management LLC now owns 13,375,378 shares of the oil and gas producer’s stock valued at $382,268,000 after purchasing an additional 1,880,501 shares during the period. Morgan Stanley boosted its stake in shares of Enterprise Products Partners by 9.4% during the second quarter. Morgan Stanley now owns 21,438,384 shares of the oil and gas producer’s stock valued at $618,927,000 after purchasing an additional 1,835,431 shares during the period. Finally, Energy Income Partners LLC lifted its stake in Enterprise Products Partners by 6.6% in the second quarter. Energy Income Partners LLC now owns 22,050,598 shares of the oil and gas producer’s stock worth $636,601,000 after acquiring an additional 1,366,532 shares during the period. 36.77% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on the stock. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price target for the company. ValuEngine downgraded shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Scotia Howard Weill started coverage on shares of Enterprise Products Partners in a report on Wednesday, September 4th. They issued an “outperform” rating on the stock. Zacks Investment Research downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a report on Monday, August 26th. Finally, Royal Bank of Canada started coverage on shares of Enterprise Products Partners in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. Enterprise Products Partners presently has an average rating of “Buy” and a consensus target price of $33.50.
NYSE EPD traded down $0.10 during trading on Friday, hitting $26.33. The stock had a trading volume of 4,099,607 shares, compared to its average volume of 4,042,235. The company has a market capitalization of $58.34 billion, a PE ratio of 13.57, a PEG ratio of 3.05 and a beta of 0.87. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 1.06. The firm has a 50 day moving average price of $27.64 and a 200 day moving average price of $28.61. Enterprise Products Partners L.P. has a twelve month low of $23.33 and a twelve month high of $30.86.
Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, October 28th. The oil and gas producer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.05). The firm had revenue of $7.96 billion during the quarter, compared to analyst estimates of $8.97 billion. Enterprise Products Partners had a net margin of 14.07% and a return on equity of 19.78%. The business’s revenue was down 16.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st will be given a $0.4425 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.77 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend is Wednesday, October 30th. Enterprise Products Partners’s payout ratio is currently 91.24%.
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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