Gilman Hill Asset Management LLC Raises Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Gilman Hill Asset Management LLC raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 4.7% in the second quarter, Holdings Channel.com reports. The fund owned 224,183 shares of the oil and gas producer’s stock after purchasing an additional 10,004 shares during the period. Gilman Hill Asset Management LLC’s holdings in Enterprise Products Partners were worth $5,463,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. FinTrust Capital Advisors LLC grew its holdings in Enterprise Products Partners by 38.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,429 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 400 shares in the last quarter. Mark Sheptoff Financial Planning LLC increased its stake in Enterprise Products Partners by 64.5% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 400 shares during the period. Activest Wealth Management increased its stake in Enterprise Products Partners by 29.3% in the 1st quarter. Activest Wealth Management now owns 1,802 shares of the oil and gas producer’s stock valued at $47,000 after buying an additional 408 shares during the period. Addison Capital Co increased its stake in Enterprise Products Partners by 2.6% in the 1st quarter. Addison Capital Co now owns 17,573 shares of the oil and gas producer’s stock valued at $454,000 after buying an additional 438 shares during the period. Finally, Legacy Advisors LLC grew its stake in shares of Enterprise Products Partners by 1.3% during the 1st quarter. Legacy Advisors LLC now owns 36,541 shares of the oil and gas producer’s stock worth $943,000 after purchasing an additional 452 shares during the period. 27.29% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of EPD traded down $1.06 during mid-day trading on Friday, reaching $23.86. The company’s stock had a trading volume of 112,899 shares, compared to its average volume of 4,133,797. The stock has a market cap of $52.00 billion, a P/E ratio of 11.23 and a beta of 1.15. The business has a 50-day simple moving average of $26.30 and a two-hundred day simple moving average of $26.00. The company has a current ratio of 0.87, a quick ratio of 0.65 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 1-year low of $20.42 and a 1-year high of $28.65.

Enterprise Products Partners (NYSE:EPDGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The company had revenue of $16.06 billion for the quarter, compared to analyst estimates of $11.96 billion. Enterprise Products Partners had a return on equity of 18.97% and a net margin of 9.54%. The company’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 EPS. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.52 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were issued a $0.475 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a dividend yield of 7.96%. Enterprise Products Partners’s dividend payout ratio is currently 85.59%.

Insider Activity at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 6,500 shares of Enterprise Products Partners stock in a transaction dated Thursday, August 4th. The shares were purchased at an average cost of $25.78 per share, with a total value of $167,570.00. Following the completion of the purchase, the director now owns 113,941 shares of the company’s stock, valued at $2,937,398.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. 37.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

EPD has been the topic of a number of recent analyst reports. Raymond James upped their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 4th. UBS Group increased their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, July 8th. TD Securities raised their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Finally, US Capital Advisors reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, June 1st. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Enterprise Products Partners Profile

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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.

Further Reading

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

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