Wedbush Securities Inc. Boosts Stake in Enterprise Products Partners L.P. (EPD)

Wedbush Securities Inc. raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 27.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,162 shares of the oil and gas producer’s stock after acquiring an additional 7,362 shares during the quarter. Wedbush Securities Inc.’s holdings in Enterprise Products Partners L.P. were worth $891,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Csenge Advisory Group bought a new position in shares of Enterprise Products Partners L.P. in the third quarter worth about $211,000. Syntal Capital Partners LLC bought a new position in shares of Enterprise Products Partners L.P. in the third quarter worth about $252,000. Greystone Investment Management LLC lifted its holdings in shares of Enterprise Products Partners L.P. by 14.1% in the third quarter. Greystone Investment Management LLC now owns 29,525 shares of the oil and gas producer’s stock worth $770,000 after acquiring an additional 3,650 shares during the last quarter. Conning Inc. lifted its holdings in shares of Enterprise Products Partners L.P. by 5.4% in the third quarter. Conning Inc. now owns 822,370 shares of the oil and gas producer’s stock worth $21,439,000 after acquiring an additional 41,947 shares during the last quarter. Finally, Tufton Capital Management lifted its holdings in shares of Enterprise Products Partners L.P. by 1.2% in the third quarter. Tufton Capital Management now owns 245,673 shares of the oil and gas producer’s stock worth $6,405,000 after acquiring an additional 2,925 shares during the last quarter. 37.48% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on EPD. Scotiabank set a $33.00 price objective on shares of Enterprise Products Partners L.P. and gave the company a “buy” rating in a report on Friday, July 21st. Jefferies Group LLC dropped their price objective on shares of Enterprise Products Partners L.P. from $33.00 to $30.00 and set a “buy” rating for the company in a report on Friday, September 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 price objective on shares of Enterprise Products Partners L.P. in a report on Friday, August 11th. BMO Capital Markets set a $33.00 price objective on shares of Enterprise Products Partners L.P. and gave the company a “buy” rating in a report on Thursday, October 12th. Finally, Seaport Global Securities began coverage on shares of Enterprise Products Partners L.P. in a report on Tuesday, October 10th. They issued a “neutral” rating and a $29.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Enterprise Products Partners L.P. presently has a consensus rating of “Buy” and an average price target of $30.86.

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Shares of Enterprise Products Partners L.P. (NYSE EPD) traded down $0.02 on Friday, hitting $25.00. The company had a trading volume of 6,368,088 shares, compared to its average volume of 6,194,719. The company has a market capitalization of $52.76 billion, a P/E ratio of 19.33, a PEG ratio of 3.69 and a beta of 0.89. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.41 and a current ratio of 0.61.

Enterprise Products Partners L.P. (NYSE:EPD) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.03). Enterprise Products Partners L.P. had a net margin of 9.83% and a return on equity of 12.01%. The business had revenue of $6.61 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. sell-side analysts anticipate that Enterprise Products Partners L.P. will post 1.32 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 7th. Shareholders of record on Tuesday, October 31st will be paid a $0.4225 dividend. The ex-dividend date is Monday, October 30th. This is a boost from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a yield of 6.76%. Enterprise Products Partners L.P.’s dividend payout ratio (DPR) is currently 135.20%.

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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