Rothschild Investment Corp IL lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,450 shares of the oil and gas producer’s stock after purchasing an additional 5,200 shares during the quarter. Rothschild Investment Corp IL’s holdings in Enterprise Products Partners were worth $1,842,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPD. Mcmillion Capital Management Inc. bought a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $29,000. Centersquare Investment Management LLC purchased a new position in Enterprise Products Partners during the second quarter valued at $34,000. TRUE Private Wealth Advisors purchased a new position in Enterprise Products Partners during the second quarter valued at $41,000. TCG Advisors LP raised its stake in Enterprise Products Partners by 40.0% during the second quarter. TCG Advisors LP now owns 2,100 shares of the oil and gas producer’s stock valued at $61,000 after buying an additional 600 shares during the last quarter. Finally, Ashburton Jersey Ltd purchased a new position in Enterprise Products Partners during the second quarter valued at $63,000. Institutional investors own 36.58% of the company’s stock.
EPD has been the subject of a number of recent research reports. ValuEngine cut 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 Enterprise Products Partners in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective for the company. Piper Jaffray Companies initiated coverage on Enterprise Products Partners in a research note on Wednesday, July 17th. They set an “overweight” rating and a $37.00 price objective for the company. Scotiabank initiated coverage on Enterprise Products Partners in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective for the company. Finally, Stifel Nicolaus lifted their price objective on Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $33.62.
Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Enterprise Products Partners had a return on equity of 20.02% and a net margin of 14.26%. The firm had revenue of $8.28 billion during the quarter, compared to analysts’ expectations of $8.57 billion. During the same quarter in the previous year, the business earned $0.31 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.18 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st will be paid a $0.4425 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.77 annualized dividend and a dividend yield of 6.42%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s payout ratio is currently 90.72%.
In other Enterprise Products Partners news, Director Murray E. Brasseux purchased 5,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $30.00 per share, for a total transaction of $150,000.00. Following the completion of the purchase, the director now directly owns 17,885 shares of the company’s stock, valued at $536,550. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 37.50% of the stock is owned by insiders.
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.
See Also: Buy-Side Analysts
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