Beach Investment Counsel Inc. PA Purchases 191,775 Shares of Enterprise Products Partners L.P. (EPD)

Beach Investment Counsel Inc. PA increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 10.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,112,099 shares of the oil and gas producer’s stock after buying an additional 191,775 shares during the quarter. Enterprise Products Partners L.P. comprises about 5.8% of Beach Investment Counsel Inc. PA’s portfolio, making the stock its biggest position. Beach Investment Counsel Inc. PA owned approximately 0.10% of Enterprise Products Partners L.P. worth $55,062,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Ameritas Investment Partners Inc. raised its stake in shares of Enterprise Products Partners L.P. by 14.3% in the second quarter. Ameritas Investment Partners Inc. now owns 3,988 shares of the oil and gas producer’s stock worth $107,000 after purchasing an additional 500 shares during the last quarter. First Financial Corp IN raised its stake in shares of Enterprise Products Partners L.P. by 11.1% in the second quarter. First Financial Corp IN now owns 4,000 shares of the oil and gas producer’s stock worth $108,000 after purchasing an additional 400 shares during the last quarter. First Eagle Investment Management LLC purchased a new stake in shares of Enterprise Products Partners L.P. in the second quarter worth approximately $130,000. Camarda Financial Advisors LLC raised its stake in shares of Enterprise Products Partners L.P. by 0.6% in the second quarter. Camarda Financial Advisors LLC now owns 4,835 shares of the oil and gas producer’s stock worth $131,000 after purchasing an additional 27 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its stake in shares of Enterprise Products Partners L.P. by 690.9% in the second quarter. Jacobi Capital Management LLC now owns 5,449 shares of the oil and gas producer’s stock worth $148,000 after purchasing an additional 4,760 shares during the last quarter. 37.48% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently commented on the company. Royal Bank Of Canada lowered their price objective on Enterprise Products Partners L.P. from $34.00 to $31.00 and set an “outperform” rating for the company in a research note on Tuesday. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price objective on shares of Enterprise Products Partners L.P. in a research note on Friday, August 11th. Sanford C. Bernstein reissued an “outperform” rating on shares of Enterprise Products Partners L.P. in a research note on Thursday, August 10th. BidaskClub downgraded Enterprise Products Partners L.P. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $33.00 price objective on shares of Enterprise Products Partners L.P. in a research note on Wednesday, July 12th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $30.99.

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Enterprise Products Partners L.P. (NYSE:EPD) traded down 1.190% during trading on Tuesday, hitting $24.505. The stock had a trading volume of 2,800,562 shares. The stock’s 50-day moving average price is $25.91 and its 200-day moving average price is $26.55. Enterprise Products Partners L.P. has a 1-year low of $23.84 and a 1-year high of $30.25. The company has a market capitalization of $52.64 billion, a P/E ratio of 19.280 and a beta of 0.91.

Enterprise Products Partners L.P. (NYSE:EPD) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). Enterprise Products Partners L.P. had a return on equity of 12.04% and a net margin of 10.28%. The firm had revenue of $6.61 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Enterprise Products Partners L.P.’s revenue was up 17.6% on a year-over-year basis. Analysts expect that Enterprise Products Partners L.P. will post $1.34 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 7th. Shareholders of record on Tuesday, October 31st will be given a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date is Monday, October 30th. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. Enterprise Products Partners L.P.’s payout ratio is 132.28%.

Enterprise Products Partners L.P. Profile

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners L.P. (NYSE:EPD)

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