Baldwin Brothers Inc. MA trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 9.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,514 shares of the oil and gas producer’s stock after selling 26,155 shares during the quarter. Baldwin Brothers Inc. MA’s holdings in Enterprise Products Partners were worth $3,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Beese Fulmer Investment Management Inc. bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth about $35,000. Creative Financial Designs Inc. ADV bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth about $35,000. TRUE Private Wealth Advisors increased its stake in shares of Enterprise Products Partners by 44.0% in the 3rd quarter. TRUE Private Wealth Advisors now owns 2,290 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 700 shares in the last quarter. JNBA Financial Advisors increased its stake in shares of Enterprise Products Partners by 48.1% in the 2nd quarter. JNBA Financial Advisors now owns 2,179 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 708 shares in the last quarter. Finally, Manchester Financial Inc. increased its stake in shares of Enterprise Products Partners by 115.2% in the 3rd quarter. Manchester Financial Inc. now owns 2,615 shares of the oil and gas producer’s stock worth $41,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors own 32.49% of the company’s stock.
EPD has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $28.00 price target on shares of Enterprise Products Partners in a report on Thursday, August 6th. ValuEngine downgraded shares of Enterprise Products Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, October 1st. Piper Sandler lowered their price target on shares of Enterprise Products Partners from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, October 9th. Wells Fargo & Company lifted their price objective on shares of Enterprise Products Partners from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Finally, SunTrust Banks lifted their price objective on shares of Enterprise Products Partners from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $24.36.
In related news, COO Graham W. Bacon bought 10,000 shares of the stock in a transaction dated Wednesday, August 26th. The stock was purchased at an average cost of $17.50 per share, with a total value of $175,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired 35,000 shares of company stock worth $345,300 in the last quarter. Company insiders own 37.50% of the company’s stock.
EPD stock traded down $0.28 during mid-day trading on Friday, reaching $17.21. 6,453,287 shares of the stock traded hands, compared to its average volume of 9,155,875. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 0.95. Enterprise Products Partners L.P. has a one year low of $10.27 and a one year high of $29.22. The stock has a market capitalization of $37.62 billion, a PE ratio of 8.44 and a beta of 1.42. The business has a 50-day moving average price of $16.74 and a two-hundred day moving average price of $17.55.
Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.01. Enterprise Products Partners had a net margin of 15.41% and a return on equity of 18.06%. The business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter in the previous year, the business posted $0.55 earnings per share. The business’s revenue was down 30.5% compared to the same quarter last year. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Friday, October 30th will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 10.34%. The ex-dividend date is Thursday, October 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.79%.
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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