Elgethun Capital Management Increases Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Elgethun Capital Management boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% in the second quarter, Holdings Channel.com reports. The fund owned 84,244 shares of the oil and gas producer’s stock after acquiring an additional 1,164 shares during the quarter. Elgethun Capital Management’s holdings in Enterprise Products Partners were worth $2,220,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Osaic Holdings Inc. boosted its holdings in Enterprise Products Partners by 2.3% during the 2nd quarter. Osaic Holdings Inc. now owns 1,148,579 shares of the oil and gas producer’s stock valued at $30,276,000 after acquiring an additional 25,357 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Enterprise Products Partners by 2.3% in the 2nd quarter. ProShare Advisors LLC now owns 140,992 shares of the oil and gas producer’s stock worth $3,715,000 after buying an additional 3,138 shares during the period. Hollencrest Capital Management lifted its holdings in shares of Enterprise Products Partners by 14.6% in the 2nd quarter. Hollencrest Capital Management now owns 4,067 shares of the oil and gas producer’s stock worth $107,000 after buying an additional 518 shares during the period. Angeles Wealth Management LLC lifted its holdings in shares of Enterprise Products Partners by 11.4% in the 2nd quarter. Angeles Wealth Management LLC now owns 11,247 shares of the oil and gas producer’s stock worth $296,000 after buying an additional 1,150 shares during the period. Finally, Personal CFO Solutions LLC lifted its holdings in shares of Enterprise Products Partners by 2.2% in the 2nd quarter. Personal CFO Solutions LLC now owns 27,267 shares of the oil and gas producer’s stock worth $718,000 after buying an additional 578 shares during the period. Hedge funds and other institutional investors own 26.54% of the company’s stock.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director John R. Rutherford purchased 10,000 shares of the stock in a transaction dated Thursday, November 9th. The stock was acquired at an average price of $25.96 per share, for a total transaction of $259,600.00. Following the completion of the transaction, the director now owns 137,423 shares of the company’s stock, valued at $3,567,501.08. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 32.60% of the stock is owned by insiders.

Enterprise Products Partners Trading Up 0.7 %

Shares of NYSE EPD traded up $0.18 during midday trading on Tuesday, reaching $26.44. 849,446 shares of the stock were exchanged, compared to its average volume of 4,416,019. Enterprise Products Partners L.P. has a 52-week low of $23.14 and a 52-week high of $27.95. The stock has a 50 day moving average price of $26.93 and a 200-day moving average price of $26.53. The company has a market capitalization of $57.42 billion, a P/E ratio of 10.72 and a beta of 1.07. The company has a current ratio of 0.92, a quick ratio of 0.65 and a debt-to-equity ratio of 0.97.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 31st. The oil and gas producer reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). Enterprise Products Partners had a net margin of 11.04% and a return on equity of 19.32%. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $11.08 billion. During the same period last year, the firm earned $0.62 earnings per share. The company’s quarterly revenue was down 22.4% on a year-over-year basis. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.51 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were paid a dividend of $0.50 per share. The ex-dividend date was Monday, October 30th. This represents a $2.00 annualized dividend and a yield of 7.56%. Enterprise Products Partners’s payout ratio is 81.63%.

Wall Street Analyst Weigh In

EPD has been the subject of several recent research reports. TD Securities reduced their price target on Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, August 2nd. The Goldman Sachs Group initiated coverage on Enterprise Products Partners in a research report on Thursday, October 5th. They set a “neutral” rating and a $28.00 price target on the stock. Truist Financial reduced their target price on Enterprise Products Partners from $33.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. StockNews.com started coverage on Enterprise Products Partners in a report on Thursday, October 5th. They issued a “buy” rating for the company. Finally, Raymond James lowered their target price on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.08.

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.