Columbia Asset Management Reduces Position in Enterprise Products Partners L.P. (EPD)

Columbia Asset Management lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 11.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,868 shares of the oil and gas producer’s stock after selling 3,388 shares during the period. Columbia Asset Management’s holdings in Enterprise Products Partners L.P. were worth $674,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its position in shares of Enterprise Products Partners L.P. by 14.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,988 shares of the oil and gas producer’s stock valued at $107,000 after acquiring an additional 500 shares during the period. First Financial Corp IN lifted its position in shares of Enterprise Products Partners L.P. by 11.1% during the 2nd quarter. First Financial Corp IN now owns 4,000 shares of the oil and gas producer’s stock valued at $108,000 after acquiring an additional 400 shares during the period. First Eagle Investment Management LLC acquired a new position in shares of Enterprise Products Partners L.P. during the 2nd quarter valued at $130,000. Camarda Financial Advisors LLC lifted its position in shares of Enterprise Products Partners L.P. by 0.6% during the 2nd quarter. Camarda Financial Advisors LLC now owns 4,835 shares of the oil and gas producer’s stock valued at $131,000 after acquiring an additional 27 shares during the period. Finally, Jacobi Capital Management LLC lifted its position in shares of Enterprise Products Partners L.P. by 690.9% during the 2nd quarter. Jacobi Capital Management LLC now owns 5,449 shares of the oil and gas producer’s stock valued at $148,000 after acquiring an additional 4,760 shares during the period. Institutional investors own 37.56% of the company’s stock.

Shares of Enterprise Products Partners L.P. (EPD) traded up $0.25 during mid-day trading on Thursday, hitting $24.27. 2,214,233 shares of the stock traded hands, compared to its average volume of 5,870,000. The stock has a market capitalization of $52,240.00, a P/E ratio of 18.94, a P/E/G ratio of 3.61 and a beta of 0.92. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.48 and a current ratio of 0.71. Enterprise Products Partners L.P. has a 52 week low of $23.59 and a 52 week high of $30.25.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 7th. Stockholders of record on Tuesday, October 31st were issued a $0.4225 dividend. The ex-dividend date was Monday, October 30th. This represents a $1.69 annualized dividend and a dividend yield of 6.96%. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. Enterprise Products Partners L.P.’s dividend payout ratio is currently 152.25%.

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In other news, Director Carin Marcy Barth bought 12,000 shares of the stock in a transaction dated Monday, November 6th. The stock was bought at an average price of $25.00 per share, for a total transaction of $300,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 37.50% of the company’s stock.

Several research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Enterprise Products Partners L.P. from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Scotiabank set a $33.00 price objective on shares of Enterprise Products Partners L.P. and gave the stock a “buy” rating in a report on Sunday, October 15th. Stifel Nicolaus restated a “buy” rating and set a $30.00 price objective on shares of Enterprise Products Partners L.P. in a report on Friday, September 15th. Jefferies Group LLC lowered their price objective on shares of Enterprise Products Partners L.P. from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, September 1st. Finally, Barclays PLC restated an “overweight” rating and set a $31.00 price objective (down previously from $33.00) on shares of Enterprise Products Partners L.P. in a report on Friday, August 4th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Enterprise Products Partners L.P. presently has an average rating of “Buy” and a consensus price target of $30.86.

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

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