Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,496 shares of the oil and gas producer’s stock after selling 1,304 shares during the period. Van ECK Associates Corp’s holdings in Enterprise Products Partners were worth $1,367,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Sargent Bickham Lagudis LLC acquired a new stake in Enterprise Products Partners in the second quarter valued at $25,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in Enterprise Products Partners in the first quarter valued at $26,000. Fairfield Bush & CO. acquired a new stake in Enterprise Products Partners in the first quarter valued at $31,000. McIlrath & Eck LLC grew its holdings in Enterprise Products Partners by 86.4% in the third quarter. McIlrath & Eck LLC now owns 1,400 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 649 shares during the last quarter. Finally, Wagner Wealth Management LLC acquired a new stake in Enterprise Products Partners in the second quarter valued at $37,000. Institutional investors and hedge funds own 26.54% of the company’s stock.

Insider Activity

In related news, CEO Aj Teague bought 3,650 shares of the stock in a transaction dated Tuesday, December 27th. The stock was acquired at an average price of $24.09 per share, for a total transaction of $87,928.50. Following the completion of the purchase, the chief executive officer now owns 2,337,775 shares in the company, valued at $56,316,999.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Aj Teague bought 3,650 shares of the stock in a transaction dated Tuesday, December 27th. The stock was acquired at an average price of $24.09 per share, for a total transaction of $87,928.50. Following the completion of the purchase, the chief executive officer now owns 2,337,775 shares in the company, valued at $56,316,999.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John R. Rutherford acquired 10,000 shares of the stock in a transaction on Wednesday, November 23rd. The shares were acquired at an average price of $24.88 per share, with a total value of $248,800.00. Following the purchase, the director now owns 123,941 shares in the company, valued at $3,083,652.08. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 39,800 shares of company stock worth $955,819. 32.60% of the stock is currently owned by corporate insiders.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $25.75 on Friday. The stock’s 50-day moving average is $24.51 and its 200-day moving average is $25.18. The company has a market cap of $56.02 billion, a price-to-earnings ratio of 11.10 and a beta of 1.11. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.61. Enterprise Products Partners L.P. has a 12 month low of $22.75 and a 12 month high of $28.65.

Enterprise Products Partners (NYSE:EPDGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The oil and gas producer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $15.47 billion for the quarter, compared to the consensus estimate of $13.85 billion. Enterprise Products Partners had a return on equity of 19.59% and a net margin of 9.12%. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.48 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Tuesday, January 31st will be paid a $0.49 dividend. The ex-dividend date of this dividend is Monday, January 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 7.61%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.48. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.90%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Citigroup began coverage on Enterprise Products Partners in a report on Thursday, December 8th. They issued a “buy” rating and a $31.00 target price on the stock. Tudor Pickering downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $29.00 price objective on the stock. in a research report on Tuesday, October 18th. Tudor, Pickering, Holt & Co. downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $29.00 price objective on the stock. in a research report on Tuesday, October 18th. Wolfe Research upgraded Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research report on Monday, January 9th. Finally, StockNews.com began coverage on Enterprise Products Partners in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.50.

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.

See Also

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

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