Signaturefd LLC reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 20.2% during the second quarter, HoldingsChannel reports. The firm owned 10,446 shares of the oil and gas producer’s stock after selling 2,646 shares during the period. Signaturefd LLC’s holdings in Enterprise Products Partners were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in EPD. Mcmillion Capital Management Inc. purchased a new stake in Enterprise Products Partners during the second quarter valued at $29,000. Knuff & Co LLC purchased a new stake in Enterprise Products Partners during the first quarter valued at $42,000. Tompkins Financial Corp increased its position in Enterprise Products Partners by 163.8% during the first quarter. Tompkins Financial Corp now owns 1,530 shares of the oil and gas producer’s stock valued at $44,000 after acquiring an additional 950 shares during the last quarter. TCG Advisors LP purchased a new stake in Enterprise Products Partners during the first quarter valued at $44,000. Finally, Bremer Bank National Association purchased a new stake in Enterprise Products Partners during the first quarter valued at $57,000. 36.68% of the stock is currently owned by hedge funds and other institutional investors.
EPD traded down $0.31 during midday trading on Wednesday, reaching $28.03. The company had a trading volume of 54,820 shares, compared to its average volume of 4,011,782. The company has a current ratio of 0.77, a quick ratio of 0.58 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $29.57. The firm has a market capitalization of $62.20 billion, a P/E ratio of 14.42, a P/E/G ratio of 3.28 and a beta of 0.88. Enterprise Products Partners L.P. has a 1 year low of $23.33 and a 1 year high of $30.86.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Wednesday, July 31st were given a $0.44 dividend. 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. This represents a $1.76 dividend on an annualized basis and a yield of 6.28%. Enterprise Products Partners’s dividend payout ratio is presently 90.72%.
In related news, Director Murray E. Brasseux purchased 5,000 shares of Enterprise Products Partners stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $30.00 per share, for a total transaction of $150,000.00. Following the completion of the transaction, the director now directly owns 17,885 shares in the company, valued at approximately $536,550. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 37.50% of the company’s stock.
A number of analysts recently commented on the company. Johnson Rice assumed coverage on Enterprise Products Partners in a research report on Thursday, May 30th. They set a “buy” rating and a $35.00 price objective for the company. Piper Jaffray Companies assumed coverage on Enterprise Products Partners in a research report on Wednesday, July 17th. They set an “overweight” rating and a $37.00 price objective for the company. Stifel Nicolaus upped their price objective on Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, ValuEngine cut Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Enterprise Products Partners has a consensus rating of “Buy” and a consensus target price of $33.57.
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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