Ballentine Partners LLC lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 141,151 shares of the oil and gas producer’s stock after selling 11,070 shares during the period. Ballentine Partners LLC’s holdings in Enterprise Products Partners were worth $4,034,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of EPD. Edge Wealth Management LLC grew its position in Enterprise Products Partners by 3.8% during the 3rd quarter. Edge Wealth Management LLC now owns 101,673 shares of the oil and gas producer’s stock worth $2,905,000 after acquiring an additional 3,700 shares during the last quarter. Proffitt & Goodson Inc. grew its position in Enterprise Products Partners by 33.7% during the 3rd quarter. Proffitt & Goodson Inc. now owns 5,950 shares of the oil and gas producer’s stock worth $170,000 after acquiring an additional 1,500 shares during the last quarter. Sicart Associates LLC bought a new stake in Enterprise Products Partners during the 3rd quarter worth $200,000. Silver Lake Advisory LLC grew its position in Enterprise Products Partners by 1.7% during the 3rd quarter. Silver Lake Advisory LLC now owns 46,160 shares of the oil and gas producer’s stock worth $1,319,000 after acquiring an additional 755 shares during the last quarter. Finally, Stephens Inc. AR grew its position in Enterprise Products Partners by 3.7% during the 3rd quarter. Stephens Inc. AR now owns 289,264 shares of the oil and gas producer’s stock worth $8,267,000 after acquiring an additional 10,451 shares during the last quarter. 36.67% of the stock is owned by institutional investors.
In related news, Director Murray E. Brasseux purchased 5,000 shares of Enterprise Products Partners stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $30.00 per share, for a total transaction of $150,000.00. Following the transaction, the director now owns 17,885 shares of the company’s stock, valued at approximately $536,550. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 37.50% of the company’s stock.
Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Enterprise Products Partners had a return on equity of 20.02% and a net margin of 14.26%. The firm had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.57 billion. During the same quarter in the previous year, the company posted $0.31 EPS. The business’s revenue was down 2.3% on a year-over-year basis. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st will be given a $0.4425 dividend. This represents a $1.77 dividend on an annualized basis and a dividend yield of 6.42%. The ex-dividend date is Wednesday, October 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s payout ratio is 90.72%.
A number of equities research analysts recently weighed in on EPD shares. Piper Jaffray Companies started coverage on Enterprise Products Partners in a research report on Wednesday, July 17th. They set an “overweight” rating and a $37.00 price objective on the stock. Scotiabank started coverage on Enterprise Products Partners in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective on the stock. Scotia Howard Weill started coverage on Enterprise Products Partners in a research report on Wednesday, September 4th. They set an “outperform” rating on the stock. Stifel Nicolaus boosted their price objective on Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, ValuEngine lowered Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $33.45.
About Enterprise Products Partners
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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