Brown Advisory Inc. Lowers Holdings in Enterprise Products Partners L.P. (EPD)
Brown Advisory Inc. trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 4.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 164,588 shares of the oil and gas producer’s stock after selling 7,615 shares during the quarter. Brown Advisory Inc.’s holdings in Enterprise Products Partners were worth $4,729,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the business. Glenview Trust Co lifted its stake in shares of Enterprise Products Partners by 18.5% during the 2nd quarter. Glenview Trust Co now owns 11,109 shares of the oil and gas producer’s stock worth $307,000 after purchasing an additional 1,735 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Enterprise Products Partners by 6.4% in the second quarter. Envestnet Asset Management Inc. now owns 30,863 shares of the oil and gas producer’s stock valued at $854,000 after buying an additional 1,849 shares during the last quarter. Brighton Jones LLC raised its stake in Enterprise Products Partners by 19.8% in the third quarter. Brighton Jones LLC now owns 11,556 shares of the oil and gas producer’s stock valued at $332,000 after buying an additional 1,913 shares during the last quarter. Raymond James Trust N.A. raised its stake in Enterprise Products Partners by 1.8% in the third quarter. Raymond James Trust N.A. now owns 107,307 shares of the oil and gas producer’s stock valued at $3,083,000 after buying an additional 1,948 shares during the last quarter. Finally, Tocqueville Asset Management L.P. raised its stake in Enterprise Products Partners by 9.4% in the second quarter. Tocqueville Asset Management L.P. now owns 22,711 shares of the oil and gas producer’s stock valued at $628,000 after buying an additional 1,950 shares during the last quarter. Institutional investors and hedge funds own 37.32% of the company’s stock.
A number of equities research analysts have commented on EPD shares. Wells Fargo & Co increased their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 8th. Bank of America increased their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, October 15th. Zacks Investment Research upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Thursday, September 6th. Raymond James increased their price target on Enterprise Products Partners from $34.00 to $35.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 4th. Finally, Barclays set a $33.00 price target on Enterprise Products Partners and gave the company a “buy” rating in a research note on Friday, October 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus target price of $32.75.
Shares of EPD stock opened at $26.21 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $56.64 billion, a PE ratio of 15.15, a PEG ratio of 4.67 and a beta of 0.88. Enterprise Products Partners L.P. has a fifty-two week low of $23.10 and a fifty-two week high of $30.05.
Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.15. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.72 billion. Enterprise Products Partners had a return on equity of 16.28% and a net margin of 10.23%. The company’s revenue was up 39.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 earnings per share. Research analysts anticipate that Enterprise Products Partners L.P. will post 1.87 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Stockholders of record on Wednesday, October 31st were issued a $0.4325 dividend. The ex-dividend date was Tuesday, October 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.43. This represents a $1.73 dividend on an annualized basis and a dividend yield of 6.60%. Enterprise Products Partners’s dividend payout ratio is currently 131.06%.
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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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