Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. increased its stake in Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 7.2% during the 1st quarter, Holdings Channel reports. The fund owned 33,577 shares of the oil and gas producer’s stock after purchasing an additional 2,257 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Enterprise Products Partners were worth $867,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Glassy Mountain Advisors Inc. raised its stake in Enterprise Products Partners by 2.7% in the first quarter. Glassy Mountain Advisors Inc. now owns 61,212 shares of the oil and gas producer’s stock valued at $1,580,000 after buying an additional 1,586 shares in the last quarter. Advisory Services Network LLC grew its holdings in shares of Enterprise Products Partners by 13.2% during the first quarter. Advisory Services Network LLC now owns 112,738 shares of the oil and gas producer’s stock worth $2,909,000 after purchasing an additional 13,114 shares during the last quarter. Atria Investments LLC purchased a new position in shares of Enterprise Products Partners during the first quarter worth about $1,467,000. Great Valley Advisor Group Inc. grew its holdings in shares of Enterprise Products Partners by 0.4% during the first quarter. Great Valley Advisor Group Inc. now owns 131,917 shares of the oil and gas producer’s stock worth $3,397,000 after purchasing an additional 539 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Enterprise Products Partners by 5.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,237,895 shares of the oil and gas producer’s stock worth $57,760,000 after buying an additional 115,519 shares during the last quarter. 27.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. UBS Group raised their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, July 8th. Raymond James raised their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 4th. US Capital Advisors restated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, June 1st. Finally, TD Securities raised their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Enterprise Products Partners Price Performance

EPD stock opened at $25.80 on Friday. The firm has a 50 day moving average of $26.24 and a 200-day moving average of $25.99. Enterprise Products Partners L.P. has a 12-month low of $20.42 and a 12-month high of $28.65. The company has a current ratio of 0.87, a quick ratio of 0.65 and a debt-to-equity ratio of 1.00. The company has a market cap of $56.22 billion, a price-to-earnings ratio of 11.62 and a beta of 1.15.

Enterprise Products Partners (NYSE:EPDGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. Enterprise Products Partners had a net margin of 9.54% and a return on equity of 18.97%. The company had revenue of $16.06 billion during the quarter, compared to the consensus estimate of $11.96 billion. During the same period last year, the firm earned $0.51 EPS. The company’s revenue for the quarter was up 69.9% on a year-over-year basis. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.52 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were given a dividend of $0.475 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a dividend yield of 7.36%. The ex-dividend date of this dividend was Thursday, July 28th. Enterprise Products Partners’s payout ratio is currently 85.59%.

Insider Buying and Selling

In related news, Director John R. Rutherford acquired 6,500 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was purchased at an average cost of $25.78 per share, for a total transaction of $167,570.00. Following the transaction, the director now directly owns 113,941 shares of the company’s stock, valued at approximately $2,937,398.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Carin Marcy Barth bought 19,050 shares of the stock in a transaction on Friday, June 24th. The stock was purchased at an average cost of $23.64 per share, with a total value of $450,342.00. Following the purchase, the director now owns 19,050 shares of the company’s stock, valued at $450,342. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John R. Rutherford bought 6,500 shares of the stock in a transaction on Thursday, August 4th. The stock was purchased at an average cost of $25.78 per share, with a total value of $167,570.00. Following the completion of the purchase, the director now directly owns 113,941 shares in the company, valued at approximately $2,937,398.98. The disclosure for this purchase can be found here. Insiders own 37.50% of the company’s stock.

About Enterprise Products Partners

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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.

Further Reading

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

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