Doliver Advisors LP increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 2.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 99,578 shares of the oil and gas producer’s stock after acquiring an additional 2,300 shares during the period. Enterprise Products Partners accounts for about 0.8% of Doliver Advisors LP’s holdings, making the stock its 14th largest position. Doliver Advisors LP’s holdings in Enterprise Products Partners were worth $2,579,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Argent Trust Co raised its holdings in shares of Enterprise Products Partners by 4.4% in the 1st quarter. Argent Trust Co now owns 127,276 shares of the oil and gas producer’s stock worth $3,296,000 after buying an additional 5,375 shares in the last quarter. Icon Advisers Inc. Co. boosted its position in shares of Enterprise Products Partners by 40.0% in the 1st quarter. Icon Advisers Inc. Co. now owns 140,000 shares of the oil and gas producer’s stock worth $3,626,000 after purchasing an additional 40,000 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Enterprise Products Partners by 7.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 16,391 shares of the oil and gas producer’s stock worth $425,000 after purchasing an additional 1,108 shares during the last quarter. FORA Capital LLC bought a new position in shares of Enterprise Products Partners in the 1st quarter worth $1,159,000. Finally, Independent Advisor Alliance boosted its position in shares of Enterprise Products Partners by 0.6% in the 1st quarter. Independent Advisor Alliance now owns 96,454 shares of the oil and gas producer’s stock worth $2,498,000 after purchasing an additional 613 shares during the last quarter. Institutional investors and hedge funds own 26.54% of the company’s stock.
In related news, Director William C. Montgomery purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was bought at an average cost of $26.60 per share, with a total value of $1,330,000.00. Following the completion of the purchase, the director now directly owns 114,758 shares in the company, valued at $3,052,562.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 32.60% of the company’s stock.
Enterprise Products Partners Stock Performance
Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). Enterprise Products Partners had a net margin of 10.39% and a return on equity of 19.71%. The firm had revenue of $10.65 billion for the quarter, compared to analysts’ expectations of $12.34 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was down 33.7% on a year-over-year basis. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.52 EPS for the current fiscal year.
Enterprise Products Partners Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.47%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Friday, July 28th. Enterprise Products Partners’s dividend payout ratio is 80.97%.
Analysts Set New Price Targets
Several research analysts have weighed in on EPD shares. TD Securities reduced their target price on Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, August 2nd. Morgan Stanley reissued an “equal weight” rating and set a $33.00 price target on shares of Enterprise Products Partners in a research report on Thursday, July 20th. StockNews.com began coverage on Enterprise Products Partners in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Mizuho increased their target price on Enterprise Products Partners from $32.00 to $33.00 in a research note on Wednesday, July 19th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.70.
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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