Ropes Wealth Advisors LLC decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 11.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,545 shares of the oil and gas producer’s stock after selling 1,155 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Mcmillion Capital Management Inc. bought a new stake in Enterprise Products Partners in the 2nd quarter worth approximately $29,000. Knuff & Co LLC bought a new stake in Enterprise Products Partners in the 1st quarter worth approximately $42,000. Tompkins Financial Corp lifted its position in Enterprise Products Partners by 163.8% in the 1st quarter. Tompkins Financial Corp now owns 1,530 shares of the oil and gas producer’s stock worth $44,000 after buying an additional 950 shares during the last quarter. TCG Advisors LP bought a new stake in Enterprise Products Partners in the 1st quarter worth approximately $44,000. Finally, Bremer Bank National Association bought a new stake in Enterprise Products Partners in the 1st quarter worth approximately $57,000. Institutional investors own 36.68% of the company’s stock.
Shares of EPD traded down $0.40 during mid-day trading on Wednesday, hitting $28.00. 59,987 shares of the company’s stock traded hands, compared to its average volume of 4,011,782. The company has a quick ratio of 0.58, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a 1 year low of $23.33 and a 1 year high of $30.86. The stock has a market cap of $62.20 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 3.28 and a beta of 0.88. The business has a 50-day simple moving average of $29.57.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 6.29%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Tuesday, July 30th. Enterprise Products Partners’s dividend payout ratio is presently 90.72%.
In related news, Director Murray E. Brasseux bought 5,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average cost of $30.00 per share, with a total value of $150,000.00. Following the completion of the acquisition, the director now owns 17,885 shares of the company’s stock, valued at approximately $536,550. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 37.50% of the stock is owned by corporate insiders.
A number of research firms recently weighed in on EPD. Johnson Rice began coverage on Enterprise Products Partners in a research report on Thursday, May 30th. They issued a “buy” rating and a $35.00 target price for the company. ValuEngine cut Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Piper Jaffray Companies began coverage on Enterprise Products Partners in a research note on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price target on the stock. Finally, Stifel Nicolaus lifted their price target on Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Enterprise Products Partners presently has an average rating of “Buy” and an average target price of $33.57.
Enterprise Products Partners Company 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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