Gilman Hill Asset Management LLC Purchases 7,887 Shares of Enterprise Products Partners L.P. (EPD)

Gilman Hill Asset Management LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 134,021 shares of the oil and gas producer’s stock after buying an additional 7,887 shares during the period. Enterprise Products Partners L.P. comprises about 1.6% of Gilman Hill Asset Management LLC’s holdings, making the stock its 27th largest position. Gilman Hill Asset Management LLC’s holdings in Enterprise Products Partners L.P. were worth $3,629,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Dubuque Bank & Trust Co. increased its stake in Enterprise Products Partners L.P. by 222.6% in the first quarter. Dubuque Bank & Trust Co. now owns 3,790 shares of the oil and gas producer’s stock valued at $105,000 after buying an additional 2,615 shares during the last quarter. First Financial Corp IN increased its stake in Enterprise Products Partners L.P. by 11.1% in the second quarter. First Financial Corp IN now owns 4,000 shares of the oil and gas producer’s stock valued at $108,000 after buying an additional 400 shares during the last quarter. Baystate Wealth Management LLC increased its stake in Enterprise Products Partners L.P. by 1,050.7% in the first quarter. Baystate Wealth Management LLC now owns 4,361 shares of the oil and gas producer’s stock valued at $122,000 after buying an additional 3,982 shares during the last quarter. Camarda Financial Advisors LLC increased its stake in Enterprise Products Partners L.P. by 0.6% in the second quarter. Camarda Financial Advisors LLC now owns 4,835 shares of the oil and gas producer’s stock valued at $131,000 after buying an additional 27 shares during the last quarter. Finally, Crestwood Advisors Group LLC purchased a new stake in Enterprise Products Partners L.P. during the first quarter valued at $140,000. Hedge funds and other institutional investors own 38.69% of the company’s stock.

Shares of Enterprise Products Partners L.P. (NYSE EPD) traded down 0.69% during midday trading on Friday, hitting $25.90. The stock had a trading volume of 4,101,658 shares. Enterprise Products Partners L.P. has a one year low of $24.01 and a one year high of $30.25. The firm has a 50 day moving average price of $27.03 and a 200 day moving average price of $27.43. The stock has a market cap of $55.63 billion, a PE ratio of 20.38 and a beta of 0.89.

Enterprise Products Partners L.P. (NYSE:EPD) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.03. Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. The business had revenue of $6.61 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, equities analysts forecast that Enterprise Products Partners L.P. will post $1.39 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 31st were paid a $0.42 dividend. The ex-dividend date was Thursday, July 27th. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.49%. Enterprise Products Partners L.P.’s payout ratio is 132.28%.

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Several research firms have issued reports on EPD. BMO Capital Markets set a $33.00 target price on Enterprise Products Partners L.P. and gave the company a “buy” rating in a research note on Monday, June 5th. Guggenheim began coverage on Enterprise Products Partners L.P. in a research note on Monday, April 17th. They issued a “buy” rating and a $32.00 target price on the stock. Scotiabank set a $33.00 target price on Enterprise Products Partners L.P. and gave the company a “buy” rating in a research note on Friday, July 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $33.00 target price on shares of Enterprise Products Partners L.P. in a research note on Friday, July 14th. Finally, BidaskClub upgraded Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $31.62.

About Enterprise Products Partners L.P.

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.

Institutional Ownership by Quarter for Enterprise Products Partners L.P. (NYSE:EPD)

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