Nachman Norwood & Parrott Inc raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 18.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,280 shares of the oil and gas producer’s stock after purchasing an additional 2,712 shares during the quarter. Nachman Norwood & Parrott Inc’s holdings in Enterprise Products Partners were worth $487,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in EPD. TCI Wealth Advisors Inc. lifted its holdings in shares of Enterprise Products Partners by 400.0% during the third quarter. TCI Wealth Advisors Inc. now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 800 shares in the last quarter. D Orazio & Associates Inc. acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $30,000. Massey Quick Simon & CO. LLC lifted its holdings in shares of Enterprise Products Partners by 1,242.6% during the third quarter. Massey Quick Simon & CO. LLC now owns 1,450 shares of the oil and gas producer’s stock worth $41,000 after buying an additional 1,342 shares in the last quarter. JNBA Financial Advisors lifted its holdings in shares of Enterprise Products Partners by 442.8% during the third quarter. JNBA Financial Advisors now owns 1,471 shares of the oil and gas producer’s stock worth $42,000 after buying an additional 1,200 shares in the last quarter. Finally, Taylor Hoffman Wealth Management acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $53,000. 36.85% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on EPD shares. Morgan Stanley started coverage on Enterprise Products Partners in a research report on Monday, January 6th. They issued an “overweight” rating and a $32.00 target price on the stock. ValuEngine upgraded Enterprise Products Partners from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Enterprise Products Partners has a consensus rating of “Buy” and an average target price of $33.67.
Enterprise Products Partners stock opened at $28.92 on Thursday. Enterprise Products Partners L.P. has a one year low of $25.04 and a one year high of $30.86. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.91 and a quick ratio of 0.72. The stock’s 50 day moving average is $27.72 and its 200 day moving average is $28.17. The firm has a market cap of $63.46 billion, a P/E ratio of 14.91, a P/E/G ratio of 3.31 and a beta of 0.88.
Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Monday, October 28th. The oil and gas producer reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.05). The firm had revenue of $7.96 billion for the quarter, compared to analysts’ expectations of $8.97 billion. Enterprise Products Partners had a net margin of 14.07% and a return on equity of 19.59%. The firm’s quarterly revenue was down 16.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 EPS. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Friday, January 31st will be issued a dividend of $0.445 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, January 30th. This represents a $1.78 dividend on an annualized basis and a yield of 6.15%. Enterprise Products Partners’s dividend payout ratio is 91.24%.
In related news, Director Randa Duncan Williams acquired 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average price of $27.99 per share, with a total value of $44,784.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have purchased a total of 880,796 shares of company stock worth $23,471,253 in the last three months. 37.50% of the stock is currently owned by insiders.
Enterprise Products Partners 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.
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