Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, HoldingsChannel reports. The institutional investor purchased 14,498 shares of the oil and gas producer’s stock, valued at approximately $401,000.
Other large investors have also recently bought and sold shares of the company. Spectrum Financial Alliance Ltd LLC purchased a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $100,000. Private Capital Group LLC boosted its holdings in Enterprise Products Partners by 46,766.7% in the first quarter. Private Capital Group LLC now owns 4,218 shares of the oil and gas producer’s stock worth $103,000 after purchasing an additional 4,209 shares during the last quarter. Tompkins Financial Corp boosted its holdings in Enterprise Products Partners by 150.3% in the second quarter. Tompkins Financial Corp now owns 3,830 shares of the oil and gas producer’s stock worth $106,000 after purchasing an additional 2,300 shares during the last quarter. Stelac Advisory Services LLC purchased a new stake in Enterprise Products Partners in the second quarter worth approximately $109,000. Finally, Poehling Capital Management LLC purchased a new stake in Enterprise Products Partners in the second quarter worth approximately $111,000. Hedge funds and other institutional investors own 36.59% of the company’s stock.
EPD opened at $29.00 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.56 and a current ratio of 0.74. Enterprise Products Partners L.P. has a 1-year low of $23.10 and a 1-year high of $30.05. The company has a market capitalization of $62.22 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 5.70 and a beta of 0.94.
Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, August 1st. The oil and gas producer reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.07. Enterprise Products Partners had a net margin of 8.95% and a return on equity of 14.42%. The business had revenue of $8.47 billion for the quarter, compared to the consensus estimate of $8.55 billion. During the same period last year, the firm earned $0.30 earnings per share. The company’s quarterly revenue was up 28.1% on a year-over-year basis. equities analysts anticipate that Enterprise Products Partners L.P. will post 1.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 8th. Shareholders of record on Tuesday, July 31st were given a $0.43 dividend. The ex-dividend date of this dividend was Monday, July 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.43. This represents a $1.72 annualized dividend and a yield of 5.93%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 130.30%.
In other Enterprise Products Partners news, CEO Aj Teague purchased 3,390 shares of the firm’s stock in a transaction on Thursday, August 2nd. The shares were acquired at an average cost of $29.48 per share, for a total transaction of $99,937.20. Following the completion of the transaction, the chief executive officer now owns 1,616,790 shares of the company’s stock, valued at $47,662,969.20. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 37.50% of the stock is currently owned by company insiders.
Several equities research analysts recently issued reports on the stock. Scotiabank set a $33.00 target price on shares of Enterprise Products Partners and gave the stock a “buy” rating in a report on Monday. Morgan Stanley raised their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, August 17th. Bank of America raised their target price on shares of Enterprise Products Partners from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Barclays raised their target price on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Finally, Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus price target of $32.38.
Enterprise Products Partners 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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