Parkside Financial Bank & Trust lessened its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.3% during the second quarter, Holdings Channel reports. The firm owned 81,081 shares of the oil and gas producer’s stock after selling 6,395 shares during the quarter. Enterprise Products Partners makes up about 0.8% of Parkside Financial Bank & Trust’s investment portfolio, making the stock its 20th biggest position. Parkside Financial Bank & Trust’s holdings in Enterprise Products Partners were worth $2,341,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in EPD. Bank of Montreal Can increased its holdings in Enterprise Products Partners by 86.9% during the 1st quarter. Bank of Montreal Can now owns 8,937,630 shares of the oil and gas producer’s stock valued at $260,084,000 after purchasing an additional 4,156,710 shares during the period. BlackRock Inc. increased its holdings in Enterprise Products Partners by 10.9% during the 1st quarter. BlackRock Inc. now owns 16,970,293 shares of the oil and gas producer’s stock valued at $493,835,000 after purchasing an additional 1,665,379 shares during the period. Wells Fargo & Company MN increased its holdings in Enterprise Products Partners by 27.6% during the 1st quarter. Wells Fargo & Company MN now owns 6,200,604 shares of the oil and gas producer’s stock valued at $180,437,000 after purchasing an additional 1,341,023 shares during the period. Neuberger Berman Group LLC increased its holdings in Enterprise Products Partners by 4.6% during the 1st quarter. Neuberger Berman Group LLC now owns 19,942,261 shares of the oil and gas producer’s stock valued at $580,320,000 after purchasing an additional 884,418 shares during the period. Finally, State of Tennessee Treasury Department increased its holdings in Enterprise Products Partners by 72.1% during the 1st quarter. State of Tennessee Treasury Department now owns 1,661,779 shares of the oil and gas producer’s stock valued at $48,358,000 after purchasing an additional 696,400 shares during the period. Institutional investors own 36.52% of the company’s stock.
In other news, Director Murray E. Brasseux bought 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 acquisition, the director now owns 17,885 shares of the company’s stock, valued at $536,550. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 37.50% of the stock is currently owned by corporate insiders.
Shares of EPD stock traded down $0.19 during midday trading on Thursday, reaching $29.10. 36,463 shares of the stock were exchanged, compared to its average volume of 4,054,833. Enterprise Products Partners L.P. has a 1 year low of $23.33 and a 1 year high of $30.86. The company’s 50 day moving average is $29.52 and its two-hundred day moving average is $28.85. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 1.06. The firm has a market cap of $64.01 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 3.35 and a beta of 0.88.
Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 earnings per share for the quarter, topping 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 the consensus estimate of $8.57 billion. During the same quarter in the prior year, the business earned $0.31 EPS. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.44 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 6.05%. Enterprise Products Partners’s dividend payout ratio is 90.72%.
A number of research analysts recently issued reports on the company. ValuEngine downgraded Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Piper Jaffray Companies assumed coverage on Enterprise Products Partners in a report on Wednesday, July 17th. They set an “overweight” rating and a $37.00 price target on the stock. Johnson Rice assumed coverage on Enterprise Products Partners in a report on Thursday, May 30th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Stifel Nicolaus boosted their price target on Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $33.75.
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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