Diversified Trust Co lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 18.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,632 shares of the oil and gas producer’s stock after selling 3,763 shares during the quarter. Diversified Trust Co’s holdings in Enterprise Products Partners were worth $405,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Glassy Mountain Advisors Inc. boosted its position in Enterprise Products Partners by 2.7% during the first quarter. Glassy Mountain Advisors Inc. now owns 61,212 shares of the oil and gas producer’s stock worth $1,580,000 after acquiring an additional 1,586 shares during the last quarter. Advisory Services Network LLC boosted its position in 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 acquiring an additional 13,114 shares during the last quarter. Atria Investments LLC acquired a new stake in Enterprise Products Partners during the first quarter worth approximately $1,467,000. Great Valley Advisor Group Inc. raised its stake in 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 period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in 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 purchasing an additional 115,519 shares during the period. Institutional investors and hedge funds own 27.29% of the company’s stock.
In other Enterprise Products Partners news, Director John R. Rutherford purchased 6,500 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was acquired at an average cost of $25.78 per share, with a total value of $167,570.00. Following the acquisition, the director now owns 113,941 shares of the company’s stock, valued at approximately $2,937,398.98. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 37.50% of the company’s stock.
Enterprise Products Partners Price Performance
Enterprise Products Partners (NYSE:EPD – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.01. The company had revenue of $16.06 billion during the quarter, compared to analyst estimates of $11.96 billion. Enterprise Products Partners had a net margin of 9.54% and a return on equity of 18.97%. The firm’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same period last year, the business earned $0.51 EPS. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.52 earnings per share for the current fiscal year.
Enterprise Products Partners Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were issued a $0.475 dividend. The ex-dividend date was Thursday, July 28th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a dividend yield of 7.62%. Enterprise Products Partners’s payout ratio is 85.59%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on EPD shares. UBS Group increased their price target on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, July 8th. TD Securities raised their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. US Capital Advisors reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Wednesday, June 1st. Finally, Raymond James raised their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 4th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.
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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