Arbor Wealth Management LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 8.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,432 shares of the oil and gas producer’s stock after buying an additional 2,008 shares during the quarter. Arbor Wealth Management LLC’s holdings in Enterprise Products Partners were worth $727,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Mcmillion Capital Management Inc. bought a new stake in Enterprise Products Partners in the 2nd quarter valued at $29,000. TCI Wealth Advisors Inc. boosted its stake in shares of Enterprise Products Partners by 400.0% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 1,000 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 800 shares in the last quarter. D Orazio & Associates Inc. acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at $30,000. Centersquare Investment Management LLC acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at $34,000. Finally, TRUE Private Wealth Advisors acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at $41,000. 36.95% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:EPD traded up $0.45 on Wednesday, hitting $26.13. 5,247,230 shares of the stock were exchanged, compared to its average volume of 4,149,924. The stock has a market capitalization of $57.62 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 3.00 and a beta of 0.87. Enterprise Products Partners L.P. has a 52 week low of $23.33 and a 52 week high of $30.86. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.72 and a current ratio of 0.91. The company’s 50-day moving average price is $26.63 and its 200 day moving average price is $28.29.
Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Monday, October 28th. The oil and gas producer reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.05). The firm had revenue of $7.96 billion for the quarter, compared to the consensus estimate of $8.97 billion. Enterprise Products Partners had a return on equity of 19.59% and a net margin of 14.07%. The business’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.4425 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.77 annualized dividend and a yield of 6.77%. The ex-dividend date of this dividend was Wednesday, October 30th. Enterprise Products Partners’s payout ratio is currently 91.24%.
EPD has been the topic of several recent analyst reports. ValuEngine downgraded shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Royal Bank of Canada initiated coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 target price 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 target price on the stock. in a research note on Monday, August 26th. Scotia Howard Weill initiated coverage on shares of Enterprise Products Partners in a research note on Wednesday, September 4th. They issued an “outperform” rating on the stock. Finally, Scotiabank initiated coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $33.88.
In other news, Director Randa Duncan Williams acquired 240,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was purchased at an average cost of $26.00 per share, with a total value of $6,240,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 37.50% of the company’s stock.
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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