Inverness Counsel LLC NY held its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 136,060 shares of the oil and gas producer’s stock at the end of the second quarter. Inverness Counsel LLC NY’s holdings in Enterprise Products Partners L.P. were worth $3,685,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Dubuque Bank & Trust Co. increased its stake in shares of 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 period. First Financial Corp IN boosted its stake in shares of 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 in the last quarter. Baystate Wealth Management LLC boosted its stake in shares of 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 in the last quarter. Camarda Financial Advisors LLC boosted its stake in shares of 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 in the last quarter. Finally, Crestwood Advisors Group LLC bought a new stake in shares of Enterprise Products Partners L.P. during the first quarter valued at about $140,000. 38.83% of the stock is owned by institutional investors.
Enterprise Products Partners L.P. (NYSE EPD) opened at 24.98 on Friday. The stock has a market cap of $53.66 billion, a PE ratio of 19.65 and a beta of 0.89. The stock’s 50 day moving average is $26.88 and its 200 day moving average is $27.32. 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 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 analysts’ expectations of $6.44 billion. Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share. Analysts predict that Enterprise Products Partners L.P. will post $1.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 31st were issued a $0.42 dividend. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. This represents a $1.68 annualized dividend and a dividend yield of 6.73%. The ex-dividend date of this dividend was Thursday, July 27th. Enterprise Products Partners L.P.’s dividend payout ratio is 132.28%.
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Several brokerages recently issued reports on EPD. BidaskClub cut shares of Enterprise Products Partners L.P. from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Stifel Nicolaus restated a “buy” rating and issued a $30.00 target price on shares of Enterprise Products Partners L.P. in a report on Friday, August 11th. Sanford C. Bernstein restated an “outperform” rating on shares of Enterprise Products Partners L.P. in a report on Thursday, August 10th. Barclays PLC restated an “overweight” rating and issued a $31.00 target price (down previously from $33.00) on shares of Enterprise Products Partners L.P. in a report on Friday, August 4th. Finally, BMO Capital Markets restated a “buy” rating and issued a $33.00 target price on shares of Enterprise Products Partners L.P. in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $31.62.
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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