Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,271,592 shares of the oil and gas producer’s stock after selling 22,047 shares during the period. River Road Asset Management LLC owned 0.06% of Enterprise Products Partners worth $36,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of EPD. Carroll Financial Associates Inc. boosted its stake in shares of Enterprise Products Partners by 2.8% in the second quarter. Carroll Financial Associates Inc. now owns 23,897 shares of the oil and gas producer’s stock worth $689,000 after acquiring an additional 659 shares during the last quarter. First American Trust FSB boosted its stake in shares of Enterprise Products Partners by 64.5% in the second quarter. First American Trust FSB now owns 14,788 shares of the oil and gas producer’s stock worth $427,000 after acquiring an additional 5,800 shares during the last quarter. Douglas Lane & Associates LLC boosted its stake in shares of Enterprise Products Partners by 4.6% in the second quarter. Douglas Lane & Associates LLC now owns 21,455 shares of the oil and gas producer’s stock worth $619,000 after acquiring an additional 950 shares during the last quarter. Smithbridge Asset Management Inc. DE lifted its position in Enterprise Products Partners by 2.3% during the second quarter. Smithbridge Asset Management Inc. DE now owns 78,714 shares of the oil and gas producer’s stock worth $2,272,000 after buying an additional 1,775 shares in the last quarter. Finally, RDA Financial Network lifted its position in Enterprise Products Partners by 33.4% during the second quarter. RDA Financial Network now owns 9,297 shares of the oil and gas producer’s stock worth $273,000 after buying an additional 2,328 shares in the last quarter. 36.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Enterprise Products Partners stock traded up $0.10 on Tuesday, hitting $26.15. The stock had a trading volume of 5,633,557 shares, compared to its average volume of 4,549,050. Enterprise Products Partners L.P. has a 52-week low of $23.33 and a 52-week high of $30.86. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 1.06. The stock has a market cap of $57.64 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 3.01 and a beta of 0.87. The company’s 50 day moving average price is $27.52 and its 200 day moving average price is $28.59.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, October 28th. The oil and gas producer reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.05). Enterprise Products Partners had a net margin of 14.07% and a return on equity of 19.78%. The firm had revenue of $7.96 billion during the quarter, compared to analysts’ expectations of $8.97 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was down 16.9% on a year-over-year basis. Analysts predict that Enterprise Products Partners L.P. will post 2.19 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st will be issued a $0.4425 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.77 annualized dividend and a dividend yield of 6.77%. The ex-dividend date is Wednesday, October 30th. Enterprise Products Partners’s payout ratio is presently 91.24%.

Several research analysts have recently issued reports on the company. Royal Bank of Canada assumed coverage on Enterprise Products Partners in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective for the company. ValuEngine cut Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Stifel Nicolaus upped their price objective on Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research cut Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Monday, August 26th. Finally, Scotiabank assumed coverage on Enterprise Products Partners in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $33.50.

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.

Featured Story: What moving averages are used to define a golden cross?

Want to see what other hedge funds are holding EPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enterprise Products Partners L.P. (NYSE:EPD).

Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

Receive News & Ratings for Enterprise Products Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enterprise Products Partners and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit