Spire Wealth Management lowered its position in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 5.5% during the 2nd quarter, Holdings Channel reports. The fund owned 41,520 shares of the oil and gas producer’s stock after selling 2,431 shares during the period. Spire Wealth Management’s holdings in Enterprise Products Partners were worth $1,094,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in Enterprise Products Partners by 4.4% in the 2nd quarter. Allworth Financial LP now owns 12,095 shares of the oil and gas producer’s stock valued at $319,000 after purchasing an additional 513 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Enterprise Products Partners by 4.8% in the 2nd quarter. International Assets Investment Management LLC now owns 46,593 shares of the oil and gas producer’s stock worth $1,228,000 after acquiring an additional 2,129 shares during the last quarter. Grand Jean Capital Management Inc. lifted its position in Enterprise Products Partners by 35.9% in the 1st quarter. Grand Jean Capital Management Inc. now owns 102,964 shares of the oil and gas producer’s stock valued at $2,667,000 after acquiring an additional 27,220 shares in the last quarter. Wealth Advisors Inc. boosted its stake in Enterprise Products Partners by 19.7% during the 1st quarter. Wealth Advisors Inc. now owns 31,815 shares of the oil and gas producer’s stock valued at $849,000 after purchasing an additional 5,235 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its holdings in Enterprise Products Partners by 1.6% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 832,435 shares of the oil and gas producer’s stock worth $21,935,000 after purchasing an additional 13,010 shares in the last quarter. Institutional investors and hedge funds own 26.54% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently issued reports on the company. StockNews.com assumed coverage on Enterprise Products Partners in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Pickering Energy Partners started coverage on shares of Enterprise Products Partners in a research note on Tuesday, October 3rd. They issued an “outperform” rating for the company. Mizuho raised their price target on shares of Enterprise Products Partners from $32.00 to $33.00 in a research report on Wednesday, July 19th. Raymond James decreased their price objective on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research note on Wednesday, November 1st. Finally, Morgan Stanley restated an “equal weight” rating and issued a $33.00 target price on shares of Enterprise Products Partners in a research note on Thursday, July 20th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.08.
Enterprise Products Partners Trading Up 0.1 %
Shares of Enterprise Products Partners stock opened at $26.24 on Thursday. The stock has a market capitalization of $56.98 billion, a P/E ratio of 10.71 and a beta of 1.07. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.65 and a current ratio of 0.92. The stock’s 50-day simple moving average is $26.96 and its 200 day simple moving average is $26.52. Enterprise Products Partners L.P. has a 52-week low of $23.14 and a 52-week high of $27.95.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its quarterly earnings results on Tuesday, October 31st. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The firm had revenue of $12 billion during the quarter, compared to analysts’ expectations of $11.08 billion. Enterprise Products Partners had a return on equity of 19.32% and a net margin of 11.04%. The company’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 earnings per share. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.51 EPS for the current year.
Enterprise Products Partners Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were issued a $0.50 dividend. The ex-dividend date was Monday, October 30th. This represents a $2.00 annualized dividend and a dividend yield of 7.62%. Enterprise Products Partners’s payout ratio is currently 81.63%.
In related news, Director John R. Rutherford purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were purchased at an average price of $25.96 per share, with a total value of $259,600.00. Following the acquisition, the director now directly owns 137,423 shares of the company’s stock, valued at $3,567,501.08. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 32.60% of the company’s stock.
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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