Commonwealth Equity Services LLC raised its position in Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 3.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 880,512 shares of the oil and gas producer's stock after acquiring an additional 31,210 shares during the quarter. Commonwealth Equity Services LLC's holdings in Enterprise Products Partners were worth $21,458,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in EPD. FinTrust Capital Advisors LLC increased its position in Enterprise Products Partners by 38.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,429 shares of the oil and gas producer's stock worth $36,000 after purchasing an additional 400 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its holdings in Enterprise Products Partners by 64.5% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 1,020 shares of the oil and gas producer's stock worth $26,000 after acquiring an additional 400 shares during the period. Activest Wealth Management boosted its holdings in Enterprise Products Partners by 29.3% in the 1st quarter. Activest Wealth Management now owns 1,802 shares of the oil and gas producer's stock worth $47,000 after acquiring an additional 408 shares during the period. Addison Capital Co boosted its holdings in Enterprise Products Partners by 2.6% in the 1st quarter. Addison Capital Co now owns 17,573 shares of the oil and gas producer's stock worth $454,000 after acquiring an additional 438 shares during the period. Finally, Claraphi Advisory Network LLC boosted its holdings in Enterprise Products Partners by 1.9% in the 2nd quarter. Claraphi Advisory Network LLC now owns 23,806 shares of the oil and gas producer's stock worth $580,000 after acquiring an additional 447 shares during the period. Hedge funds and other institutional investors own 27.29% of the company's stock.
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Insider Buying and Selling
In other news, Director John R. Rutherford acquired 6,500 shares of Enterprise Products Partners stock in a transaction that occurred on Thursday, August 4th. The shares were purchased at an average cost of $25.78 per share, for a total transaction of $167,570.00. Following the completion of the purchase, the director now directly owns 113,941 shares of the company's stock, valued at approximately $2,937,398.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 37.50% of the stock is currently owned by company insiders.
Enterprise Products Partners Stock Performance
Enterprise Products Partners stock opened at $23.78 on Friday. The stock has a market cap of $51.82 billion, a P/E ratio of 10.71 and a beta of 1.15. The company has a current ratio of 0.87, a quick ratio of 0.65 and a debt-to-equity ratio of 1.00. The stock has a 50 day moving average of $26.10 and a 200-day moving average of $25.94. Enterprise Products Partners L.P. has a 52 week low of $20.42 and a 52 week high of $28.65.
Enterprise Products Partners (NYSE:EPD – Get Rating) last released its earnings results on Wednesday, August 3rd. The oil and gas producer reported $0.64 EPS for the quarter, beating the consensus estimate of $0.63 by $0.01. Enterprise Products Partners had a return on equity of 18.97% and a net margin of 9.54%. The company had revenue of $16.06 billion during the quarter, compared to analysts' expectations of $11.96 billion. During the same period in the prior year, the business posted $0.51 EPS. The business's revenue was up 69.9% on a year-over-year basis. On average, analysts expect 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 Friday, August 12th. Investors of record on Friday, July 29th were paid a dividend of $0.475 per share. The ex-dividend date was Thursday, July 28th. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a yield of 7.99%. Enterprise Products Partners's dividend payout ratio (DPR) is 85.59%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on EPD shares. TD Securities upped their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, August 4th. UBS Group upped their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, July 8th. Finally, Raymond James upped their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a "strong-buy" rating in a report on Thursday, August 4th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $30.00.
Enterprise Products Partners Profile
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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.
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