Enterprise Products Partners L.P. (EPD) Position Reduced by Pointe Capital Management LLC

Pointe Capital Management LLC decreased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 13.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 137,194 shares of the oil and gas producer’s stock after selling 22,154 shares during the quarter. Enterprise Products Partners makes up about 2.9% of Pointe Capital Management LLC’s investment portfolio, making the stock its 4th largest position. Pointe Capital Management LLC’s holdings in Enterprise Products Partners were worth $3,637,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Ameritas Investment Partners Inc. lifted its position in Enterprise Products Partners by 14.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,988 shares of the oil and gas producer’s stock worth $107,000 after buying an additional 500 shares in the last quarter. Ffcm LLC purchased a new position in Enterprise Products Partners during the third quarter worth approximately $112,000. Jacobi Capital Management LLC lifted its position in Enterprise Products Partners by 690.9% during the second quarter. Jacobi Capital Management LLC now owns 5,449 shares of the oil and gas producer’s stock worth $148,000 after buying an additional 4,760 shares in the last quarter. Acrospire Investment Management LLC lifted its position in Enterprise Products Partners by 571.4% during the second quarter. Acrospire Investment Management LLC now owns 5,640 shares of the oil and gas producer’s stock worth $153,000 after buying an additional 4,800 shares in the last quarter. Finally, Phocas Financial Corp. purchased a new position in Enterprise Products Partners during the second quarter worth approximately $168,000. Hedge funds and other institutional investors own 37.56% of the company’s stock.

Enterprise Products Partners L.P. (EPD) traded up $0.27 during trading hours on Friday, reaching $28.88. The company’s stock had a trading volume of 6,110,000 shares, compared to its average volume of 6,230,000. Enterprise Products Partners L.P. has a 12 month low of $23.59 and a 12 month high of $30.25. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.71 and a quick ratio of 0.48. The stock has a market capitalization of $62,060.00, a P/E ratio of 26.02, a P/E/G ratio of 3.70 and a beta of 0.90.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 31st will be given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 5.89%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.42. Enterprise Products Partners’s payout ratio is currently 152.25%.

A number of equities analysts recently commented on the company. Royal Bank of Canada reduced their price objective on Enterprise Products Partners from $34.00 to $31.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 31st. Bank of America assumed coverage on Enterprise Products Partners in a research report on Tuesday. They set a “buy” rating on the stock. BMO Capital Markets reiterated a “buy” rating and set a $33.00 price objective on shares of Enterprise Products Partners in a research report on Tuesday, November 14th. Mizuho set a $31.00 price objective on Enterprise Products Partners and gave the stock a “buy” rating in a research report on Sunday, October 15th. Finally, Seaport Global Securities initiated coverage on Enterprise Products Partners in a research report on Tuesday, October 10th. They set a “neutral” rating and a $29.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $30.93.

In other news, Director Carin Marcy Barth acquired 12,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $300,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Aj Teague acquired 11,300 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The stock was purchased at an average price of $26.47 per share, for a total transaction of $299,111.00. Following the acquisition, the chief executive officer now directly owns 1,474,183 shares in the company, valued at approximately $39,021,624.01. The disclosure for this purchase can be found here. Insiders acquired 31,550 shares of company stock worth $799,256 in the last 90 days. Company insiders own 37.50% of the company’s stock.

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Enterprise Products Partners Company 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 (NYSE:EPD)

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