Beaird Harris Wealth Management LLC grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 1,329.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,365 shares of the oil and gas producer’s stock after purchasing an additional 20,800 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in Enterprise Products Partners were worth $532,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the business. Sargent Bickham Lagudis LLC purchased a new stake in Enterprise Products Partners in the 2nd quarter worth about $25,000. Fairfield Bush & CO. bought a new stake in Enterprise Products Partners during the 1st quarter worth approximately $31,000. McIlrath & Eck LLC lifted its stake in Enterprise Products Partners by 86.4% in the 3rd quarter. McIlrath & Eck LLC now owns 1,400 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 649 shares in the last quarter. Wagner Wealth Management LLC bought a new position in Enterprise Products Partners in the 2nd quarter valued at $37,000. Finally, SRS Capital Advisors Inc. boosted its stake in Enterprise Products Partners by 115.4% during the second quarter. SRS Capital Advisors Inc. now owns 1,680 shares of the oil and gas producer’s stock valued at $41,000 after buying an additional 900 shares during the period. 26.54% of the stock is owned by hedge funds and other institutional investors.
Enterprise Products Partners Trading Down 0.5 %
EPD traded down $0.13 during midday trading on Tuesday, reaching $25.62. 78,514 shares of the company’s stock traded hands, compared to its average volume of 4,218,158. The firm has a fifty day moving average of $24.53 and a two-hundred day moving average of $25.19. The stock has a market capitalization of $55.74 billion, a price-to-earnings ratio of 11.10 and a beta of 1.11. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.61. Enterprise Products Partners L.P. has a 52 week low of $22.75 and a 52 week high of $28.65.
Enterprise Products Partners (NYSE:EPD – Get Rating) last released its quarterly earnings results on Tuesday, November 1st. The oil and gas producer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Enterprise Products Partners had a return on equity of 19.59% and a net margin of 9.12%. The business had revenue of $15.47 billion during the quarter, compared to analyst estimates of $13.85 billion. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.48 earnings per share for the current fiscal year.
Enterprise Products Partners Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st will be issued a dividend of $0.49 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, January 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 7.65%. Enterprise Products Partners’s dividend payout ratio is 81.90%.
Analyst Ratings Changes
Several research firms have weighed in on EPD. Tudor, Pickering, Holt & Co. cut Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $29.00 price target on the stock. in a report on Tuesday, October 18th. Citigroup initiated coverage on Enterprise Products Partners in a report on Thursday, December 8th. They issued a “buy” rating and a $31.00 price objective for the company. Wolfe Research raised Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a report on Monday, January 9th. Tudor Pickering lowered Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $29.00 target price for the company. in a research note on Tuesday, October 18th. Finally, StockNews.com initiated coverage on shares of Enterprise Products Partners in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.50.
Insiders Place Their Bets
In other news, Director John R. Rutherford bought 10,000 shares of Enterprise Products Partners stock in a transaction on Wednesday, November 23rd. The shares were purchased at an average price of $24.88 per share, for a total transaction of $248,800.00. Following the acquisition, the director now owns 123,941 shares of the company’s stock, valued at $3,083,652.08. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director John R. Rutherford purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were bought at an average price of $24.88 per share, for a total transaction of $248,800.00. Following the purchase, the director now directly owns 123,941 shares of the company’s stock, valued at approximately $3,083,652.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aj Teague purchased 21,150 shares of the business’s stock in a transaction that occurred on Tuesday, December 20th. The stock was bought at an average price of $23.60 per share, for a total transaction of $499,140.00. Following the purchase, the chief executive officer now directly owns 2,335,225 shares in the company, valued at $55,111,310. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 39,800 shares of company stock worth $955,819. Company insiders own 32.60% of the company’s stock.
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.
Further Reading
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