Canton Hathaway LLC Raises Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Canton Hathaway LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 238.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 56,100 shares of the oil and gas producer’s stock after purchasing an additional 39,500 shares during the quarter. Canton Hathaway LLC’s holdings in Enterprise Products Partners were worth $1,214,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EPD. Disciplined Investments LLC purchased a new position in Enterprise Products Partners in the 2nd quarter worth approximately $25,000. First Command Bank boosted its holdings in Enterprise Products Partners by 84.5% in the 2nd quarter. First Command Bank now owns 1,107 shares of the oil and gas producer’s stock worth $27,000 after acquiring an additional 507 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Enterprise Products Partners in the 2nd quarter worth approximately $29,000. FFT Wealth Management LLC purchased a new position in Enterprise Products Partners in the 2nd quarter worth approximately $30,000. Finally, Eubel Brady & Suttman Asset Management Inc. purchased a new position in Enterprise Products Partners in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 28.32% of the company’s stock.

Shares of NYSE:EPD traded up $0.25 on Thursday, reaching $22.24. 3,764,493 shares of the company traded hands, compared to its average volume of 6,823,980. Enterprise Products Partners L.P. has a fifty-two week low of $19.28 and a fifty-two week high of $25.69. The company’s 50 day moving average is $22.79 and its 200-day moving average is $23.20. The stock has a market capitalization of $48.53 billion, a PE ratio of 12.49 and a beta of 1.37. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.08 and a quick ratio of 0.82.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, November 2nd. The oil and gas producer reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. Enterprise Products Partners had a return on equity of 18.67% and a net margin of 10.81%. The company had revenue of $10.83 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. The company’s quarterly revenue was up 56.5% compared to the same quarter last year. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.22 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Stockholders of record on Friday, October 29th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, October 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.09%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 101.12%.

In other Enterprise Products Partners news, Director John R. Rutherford bought 10,000 shares of Enterprise Products Partners stock in a transaction dated Tuesday, November 16th. The stock was bought at an average price of $22.86 per share, for a total transaction of $228,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aj Teague bought 23,300 shares of Enterprise Products Partners stock in a transaction dated Monday, September 20th. The stock was acquired at an average price of $21.41 per share, with a total value of $498,853.00. The disclosure for this purchase can be found here. 37.50% of the stock is currently owned by corporate insiders.

A number of equities analysts have weighed in on EPD shares. Mizuho upped their price target on Enterprise Products Partners from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, October 5th. Morgan Stanley lowered their price target on Enterprise Products Partners from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, August 26th. Zacks Investment Research lowered shares of Enterprise Products Partners from a “hold” rating to a “sell” rating and set a $23.00 target price for the company. in a research report on Tuesday, September 28th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating and set a $24.00 price target on the stock. in a research report on Tuesday, October 19th. Finally, Bank of America started coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 28th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $27.33.

Enterprise Products Partners Company Profile

Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: 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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