SeaBridge Investment Advisors LLC decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,644 shares of the oil and gas producer’s stock after selling 966 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $1,415,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Alps Advisors Inc. raised its stake in shares of Enterprise Products Partners by 8.6% during the 1st quarter. Alps Advisors Inc. now owns 26,587,473 shares of the oil and gas producer’s stock worth $585,456,000 after buying an additional 2,110,695 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Enterprise Products Partners by 1,574.0% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 21,187,061 shares of the oil and gas producer’s stock valued at $466,539,000 after purchasing an additional 19,921,384 shares in the last quarter. BlackRock Inc. grew its position in shares of Enterprise Products Partners by 12.9% in the first quarter. BlackRock Inc. now owns 18,705,833 shares of the oil and gas producer’s stock valued at $411,902,000 after purchasing an additional 2,138,372 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Enterprise Products Partners by 4.3% during the 1st quarter. Neuberger Berman Group LLC now owns 17,405,097 shares of the oil and gas producer’s stock worth $383,261,000 after purchasing an additional 715,568 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in Enterprise Products Partners by 2.5% in the 1st quarter. CIBC Private Wealth Group LLC now owns 14,714,144 shares of the oil and gas producer’s stock valued at $324,006,000 after buying an additional 356,521 shares in the last quarter. 28.80% of the stock is owned by institutional investors and hedge funds.
In other news, Director John R. Rutherford bought 10,000 shares of Enterprise Products Partners stock in a transaction on Thursday, August 26th. The shares were bought at an average price of $22.19 per share, with a total value of $221,900.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 37.50% of the company’s stock.
Enterprise Products Partners (NYSE:EPD) last released its earnings results on Wednesday, July 28th. The oil and gas producer reported $0.50 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. The company had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $7.79 billion. Enterprise Products Partners had a return on equity of 18.26% and a net margin of 11.80%. During the same period in the prior year, the business posted $0.47 EPS. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.21 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 12th. Stockholders of record on Friday, July 30th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 8.09%. The ex-dividend date was Thursday, July 29th. Enterprise Products Partners’s payout ratio is currently 85.31%.
EPD has been the topic of several recent research reports. Morgan Stanley reduced their price objective on Enterprise Products Partners from $33.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, August 26th. Raymond James raised their price target on shares of Enterprise Products Partners from $26.00 to $28.00 and gave the company a “strong-buy” rating in a report on Wednesday, July 21st. Finally, Wells Fargo & Company increased their price objective on shares of Enterprise Products Partners from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, June 24th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $26.20.
About Enterprise Products Partners
Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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