Infrastructure Capital Advisors LLC boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 33.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,701,162 shares of the oil and gas producer’s stock after purchasing an additional 424,064 shares during the period. Enterprise Products Partners makes up approximately 7.6% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 2nd biggest holding. Infrastructure Capital Advisors LLC owned approximately 0.08% of Enterprise Products Partners worth $41,049,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in EPD. Disciplined Investments LLC bought a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $25,000. First Command Bank raised its stake in shares of Enterprise Products Partners by 84.5% during the second quarter. First Command Bank now owns 1,107 shares of the oil and gas producer’s stock valued at $27,000 after acquiring an additional 507 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $29,000. FFT Wealth Management LLC bought a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $30,000. Finally, Stonebridge Capital Advisors LLC bought a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $35,000. 28.80% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on EPD. Mizuho lifted their price target on shares of Enterprise Products Partners from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, October 5th. Raymond James boosted their price objective on shares of Enterprise Products Partners from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, July 21st. Zacks Investment Research lowered shares of Enterprise Products Partners from a “hold” rating to a “sell” rating and set a $23.00 price target on the stock. in a report on Tuesday, September 28th. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Tuesday, September 28th. They issued a “buy” rating on the stock. Finally, Morgan Stanley cut their price target on shares of Enterprise Products Partners from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, August 26th. One research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Buy” and an average target price of $26.80.
Shares of EPD traded up $0.28 during trading hours on Thursday, reaching $24.30. 145,181 shares of the company traded hands, compared to its average volume of 6,826,724. The stock has a market capitalization of $53.10 billion, a P/E ratio of 13.80 and a beta of 1.40. The company has a quick ratio of 0.66, a current ratio of 0.98 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12-month low of $16.01 and a 12-month high of $25.69. The business has a fifty day moving average price of $22.34 and a 200-day moving average price of $23.17.
Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, July 28th. The oil and gas producer reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. The firm had revenue of $9.45 billion for the quarter, compared to analyst estimates of $7.79 billion. Enterprise Products Partners had a net margin of 11.80% and a return on equity of 18.26%. During the same period in the previous year, the company earned $0.47 earnings per share. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 12th. Stockholders of record on Friday, October 29th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.41%. The ex-dividend date of this dividend is Thursday, October 28th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 85.31%.
Enterprise Products Partners Company Profile
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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