Quadrant Private Wealth Management LLC increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 7.4% during the second quarter, HoldingsChannel reports. The firm owned 50,476 shares of the oil and gas producer’s stock after acquiring an additional 3,496 shares during the period. Enterprise Products Partners accounts for approximately 1.4% of Quadrant Private Wealth Management LLC’s holdings, making the stock its 18th biggest position. Quadrant Private Wealth Management LLC’s holdings in Enterprise Products Partners were worth $1,397,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of EPD. Argent Trust Co increased its stake in Enterprise Products Partners by 8.1% in the 4th quarter. Argent Trust Co now owns 32,989 shares of the oil and gas producer’s stock worth $875,000 after purchasing an additional 2,485 shares in the last quarter. Global X Management Co. LLC increased its stake in Enterprise Products Partners by 1.6% in the 1st quarter. Global X Management Co. LLC now owns 3,769,446 shares of the oil and gas producer’s stock worth $92,276,000 after purchasing an additional 60,671 shares in the last quarter. Groesbeck Investment Management Corp NJ increased its stake in Enterprise Products Partners by 8.3% in the 1st quarter. Groesbeck Investment Management Corp NJ now owns 58,766 shares of the oil and gas producer’s stock worth $1,439,000 after purchasing an additional 4,480 shares in the last quarter. GenTrust LLC increased its stake in Enterprise Products Partners by 14.0% in the 1st quarter. GenTrust LLC now owns 40,682 shares of the oil and gas producer’s stock worth $996,000 after purchasing an additional 4,985 shares in the last quarter. Finally, Abbot Financial Management Inc. purchased a new position in Enterprise Products Partners in the 1st quarter worth about $213,000. 36.59% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on EPD shares. ValuEngine raised Enterprise Products Partners from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. SunTrust Banks set a $33.00 price target on Enterprise Products Partners and gave the stock a “buy” rating in a research note on Monday, July 23rd. BMO Capital Markets reaffirmed a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research note on Friday, July 13th. Mitsubishi UFJ Financial Group lifted their target price on Enterprise Products Partners to $35.00 and gave the company an “overweight” rating in a research note on Thursday, August 2nd. Finally, Barclays lifted their target price on Enterprise Products Partners from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, April 30th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.40.
Enterprise Products Partners opened at $29.60 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.58 and a current ratio of 0.74. Enterprise Products Partners L.P. has a fifty-two week low of $23.10 and a fifty-two week high of $30.05. The stock has a market cap of $63.77 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 5.84 and a beta of 0.94.
Enterprise Products Partners (NYSE:EPD) last released its earnings results on Wednesday, August 1st. The oil and gas producer reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. The company had revenue of $8.47 billion for the quarter, compared to analysts’ expectations of $8.55 billion. Enterprise Products Partners had a return on equity of 14.42% and a net margin of 8.95%. The business’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 EPS. equities analysts forecast that Enterprise Products Partners L.P. will post 1.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 8th. Investors of record on Tuesday, July 31st were paid a $0.43 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Monday, July 30th. This represents a $1.72 annualized dividend and a dividend yield of 5.81%. Enterprise Products Partners’s payout ratio is presently 130.30%.
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.
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