Hollencrest Capital Management increased its position in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 14.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,067 shares of the oil and gas producer’s stock after acquiring an additional 518 shares during the period. Hollencrest Capital Management’s holdings in Enterprise Products Partners were worth $107,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of EPD. Ellevest Inc. acquired a new position in Enterprise Products Partners during the 1st quarter valued at about $25,000. WealthPLAN Partners LLC acquired a new stake in Enterprise Products Partners in the 1st quarter valued at about $25,000. Mcmillion Capital Management Inc. bought a new position in shares of Enterprise Products Partners during the 2nd quarter valued at about $26,000. Pacific Center for Financial Services acquired a new position in shares of Enterprise Products Partners in the 1st quarter worth approximately $27,000. Finally, Fairfield Bush & CO. bought a new stake in shares of Enterprise Products Partners in the 1st quarter worth approximately $31,000. 26.54% of the stock is currently owned by institutional investors.
Insider Activity at Enterprise Products Partners
In related news, Director John R. Rutherford bought 10,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was purchased at an average price of $25.96 per share, with a total value of $259,600.00. Following the completion of the transaction, the director now directly owns 137,423 shares of the company’s stock, valued at $3,567,501.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 32.60% of the stock is owned by company insiders.
Enterprise Products Partners Stock Up 1.1 %
Enterprise Products Partners (NYSE:EPD – Get Free Report) last issued its earnings results on Tuesday, October 31st. The oil and gas producer reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). The firm had revenue of $12 billion during the quarter, compared to analyst estimates of $11.08 billion. Enterprise Products Partners had a return on equity of 19.32% and a net margin of 11.04%. The business’s revenue for the quarter was down 22.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 earnings per share. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.51 earnings per share for the current fiscal year.
Enterprise Products Partners Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.61%. The ex-dividend date was Monday, October 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.63%.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the stock. TD Securities decreased their price target on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. The Goldman Sachs Group initiated coverage on Enterprise Products Partners in a research report on Thursday, October 5th. They set a “neutral” rating and a $28.00 target price on the stock. StockNews.com started coverage on Enterprise Products Partners in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. UBS Group reduced their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, October 5th. Finally, Pickering Energy Partners started coverage on shares of Enterprise Products Partners in a research report on Tuesday, October 3rd. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.08.
Enterprise Products Partners Company 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.
- Five stocks we like better than Enterprise Products Partners
- How to Invest in Grocery Stores
- S&P 500’s Whirlwind: Big gains, warning whispers & tactical moves
- What is the S&P/TSX Index?
- MarketBeat Week in Review – 11/13 – 11/17
- Are Penny Stocks a Good Fit for Your Portfolio?
- 3 large caps with red hot RSIs with upside
Receive News & Ratings for Enterprise Products Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enterprise Products Partners and related companies with MarketBeat.com's FREE daily email newsletter.