Sigma Planning Corp lessened its position in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,968 shares of the oil and gas producer’s stock after selling 1,425 shares during the quarter. Sigma Planning Corp’s holdings in Enterprise Products Partners were worth $983,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Fairfield Bush & CO. purchased a new stake in Enterprise Products Partners during the 1st quarter worth about $31,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Enterprise Products Partners by 2.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,571,535 shares of the oil and gas producer’s stock worth $169,611,000 after purchasing an additional 169,059 shares during the period. BlackRock Inc. boosted its position in shares of Enterprise Products Partners by 4.7% during the 1st quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock worth $646,548,000 after acquiring an additional 1,114,690 shares in the last quarter. Cibc World Market Inc. boosted its position in shares of Enterprise Products Partners by 3.2% during the 1st quarter. Cibc World Market Inc. now owns 89,367 shares of the oil and gas producer’s stock worth $2,307,000 after acquiring an additional 2,804 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Enterprise Products Partners by 76.5% during the 1st quarter. Sei Investments Co. now owns 888,439 shares of the oil and gas producer’s stock worth $22,931,000 after acquiring an additional 385,008 shares in the last quarter. Hedge funds and other institutional investors own 26.54% of the company’s stock.
Insider Transactions at Enterprise Products Partners
In other Enterprise Products Partners news, Director William C. Montgomery bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average cost of $26.60 per share, for a total transaction of $1,330,000.00. Following the completion of the purchase, the director now owns 114,758 shares of the company’s stock, valued at approximately $3,052,562.80. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 32.60% of the company’s stock.
Enterprise Products Partners Stock Performance
Enterprise Products Partners (NYSE:EPD – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.02). Enterprise Products Partners had a return on equity of 19.77% and a net margin of 10.39%. The firm had revenue of $10.65 billion for the quarter, compared to analyst estimates of $12.34 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was down 33.7% compared to the same quarter last year. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.52 earnings per share for the current fiscal year.
Enterprise Products Partners Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.51%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, July 28th. Enterprise Products Partners’s payout ratio is 80.97%.
Analysts Set New Price Targets
Several research firms have recently issued reports on EPD. StockNews.com began coverage on Enterprise Products Partners in a research report on Thursday, May 18th. They set a “buy” rating for the company. Morgan Stanley reissued an “equal weight” rating and issued a $33.00 target price on shares of Enterprise Products Partners in a research report on Thursday, July 20th. TD Securities reduced their target price on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, August 2nd. Barclays increased their price objective on Enterprise Products Partners from $29.00 to $30.00 in a research report on Tuesday, April 18th. Finally, Mizuho increased their price target on Enterprise Products Partners from $32.00 to $33.00 in a report on Wednesday, July 19th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.70.
Check Out Our Latest Research Report on Enterprise Products Partners
Enterprise Products Partners Company Profile
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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