Farmers & Merchants Investments Inc. acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,660 shares of the oil and gas producer’s stock, valued at approximately $993,000.
Several other hedge funds and other institutional investors also recently modified their holdings of EPD. Investment House LLC increased its position in shares of Enterprise Products Partners L.P. by 14.4% in the second quarter. Investment House LLC now owns 22,575 shares of the oil and gas producer’s stock worth $611,000 after buying an additional 2,850 shares during the last quarter. Private Capital Management Inc. increased its position in shares of Enterprise Products Partners L.P. by 16.2% in the second quarter. Private Capital Management Inc. now owns 23,700 shares of the oil and gas producer’s stock worth $642,000 after buying an additional 3,300 shares during the last quarter. Blackhill Capital Inc. increased its position in shares of Enterprise Products Partners L.P. by 5.0% in the second quarter. Blackhill Capital Inc. now owns 168,650 shares of the oil and gas producer’s stock worth $4,567,000 after buying an additional 8,000 shares during the last quarter. US Bancorp DE increased its position in shares of Enterprise Products Partners L.P. by 2.3% in the second quarter. US Bancorp DE now owns 361,937 shares of the oil and gas producer’s stock worth $9,802,000 after buying an additional 8,147 shares during the last quarter. Finally, Bollard Group LLC increased its position in shares of Enterprise Products Partners L.P. by 1.5% in the second quarter. Bollard Group LLC now owns 1,412,665 shares of the oil and gas producer’s stock worth $38,255,000 after buying an additional 20,959 shares during the last quarter. 38.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of Enterprise Products Partners L.P. (EPD) traded down 0.503% during mid-day trading on Friday, hitting $26.705. The stock had a trading volume of 1,709,544 shares. The stock has a 50 day moving average of $27.02 and a 200-day moving average of $27.50. The stock has a market capitalization of $57.05 billion, a P/E ratio of 21.623 and a beta of 0.89. Enterprise Products Partners L.P. has a 52 week low of $24.01 and a 52 week high of $30.25.
Enterprise Products Partners L.P. (NYSE:EPD) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.03. The business had revenue of $6.61 billion during the quarter, compared to the consensus estimate of $6.44 billion. Enterprise Products Partners L.P. had a net margin of 10.31% and a return on equity of 11.73%. Enterprise Products Partners L.P.’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. On average, equities research analysts predict that Enterprise Products Partners L.P. will post $1.41 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 7th. Shareholders of record on Monday, July 31st will be paid a $0.42 dividend. This is a positive change from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.68 annualized dividend and a yield of 6.26%. Enterprise Products Partners L.P.’s dividend payout ratio is currently 135.48%.
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A number of brokerages recently weighed in on EPD. Scotiabank set a $33.00 price objective on Enterprise Products Partners L.P. and gave the company a “buy” rating in a research note on Friday, July 21st. Stifel Nicolaus reissued a “buy” rating and issued a $33.00 price objective on shares of Enterprise Products Partners L.P. in a research note on Friday, July 14th. BMO Capital Markets reissued a “buy” rating and issued a $33.00 price objective on shares of Enterprise Products Partners L.P. in a research note on Wednesday, July 12th. BidaskClub raised Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Morgan Stanley raised Enterprise Products Partners L.P. from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $26.37 to $26.50 in a research note on Thursday, June 15th. One analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $31.93.
Enterprise Products Partners L.P. Company Profile
Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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