9,831 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPDGet Rating) in the third quarter, HoldingsChannel.com reports. The firm acquired 9,831 shares of the oil and gas producer’s stock, valued at approximately $234,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its holdings in Enterprise Products Partners by 15.4% in the 3rd quarter. Jennison Associates LLC now owns 1,090,266 shares of the oil and gas producer’s stock worth $25,927,000 after acquiring an additional 145,863 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in Enterprise Products Partners by 5.6% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 1,289,517 shares of the oil and gas producer’s stock valued at $30,665,000 after buying an additional 68,066 shares during the last quarter. Atria Investments LLC raised its stake in Enterprise Products Partners by 25.3% during the 3rd quarter. Atria Investments LLC now owns 64,804 shares of the oil and gas producer’s stock valued at $1,541,000 after buying an additional 13,068 shares during the last quarter. Tranquility Partners LLC raised its stake in Enterprise Products Partners by 17.3% during the 3rd quarter. Tranquility Partners LLC now owns 18,158 shares of the oil and gas producer’s stock valued at $432,000 after buying an additional 2,676 shares during the last quarter. Finally, Moloney Securities Asset Management LLC raised its stake in Enterprise Products Partners by 3.6% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 25,949 shares of the oil and gas producer’s stock valued at $617,000 after buying an additional 902 shares during the last quarter. 26.54% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 1.4 %

Shares of Enterprise Products Partners stock opened at $26.10 on Tuesday. The company has a market capitalization of $56.78 billion, a P/E ratio of 11.25 and a beta of 1.11. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.61 and a current ratio of 0.86. The company has a fifty day moving average of $24.60 and a 200 day moving average of $25.24. Enterprise Products Partners L.P. has a fifty-two week low of $22.75 and a fifty-two week high of $28.65.

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

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st will be paid a $0.49 dividend. The ex-dividend date is Monday, January 30th. This represents a $1.96 annualized dividend and a yield of 7.51%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.48. Enterprise Products Partners’s payout ratio is presently 81.90%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CEO Aj Teague purchased 21,150 shares of the firm’s stock in a transaction on Tuesday, December 20th. The shares were acquired at an average price of $23.60 per share, for a total transaction of $499,140.00. Following the purchase, the chief executive officer now directly owns 2,335,225 shares in the company, valued at $55,111,310. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Enterprise Products Partners news, CEO Aj Teague bought 21,150 shares of the firm’s stock in a transaction dated Tuesday, December 20th. The shares were purchased at an average cost of $23.60 per share, for a total transaction of $499,140.00. Following the transaction, the chief executive officer now owns 2,335,225 shares of the company’s stock, valued at $55,111,310. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carin Marcy Barth bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The shares were acquired at an average price of $23.99 per share, for a total transaction of $119,950.00. Following the completion of the transaction, the director now directly owns 75,776 shares in the company, valued at approximately $1,817,866.24. The disclosure for this purchase can be found here. Insiders have purchased a total of 39,800 shares of company stock worth $955,819 in the last 90 days. 32.60% of the stock is currently owned by corporate insiders.

Enterprise Products Partners Profile

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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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