Enterprise Products Partners L.P. (EPD) Holdings Increased by Tower Bridge Advisors
Tower Bridge Advisors raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.5% during the 2nd quarter, Holdings Channel reports. The firm owned 200,423 shares of the oil and gas producer’s stock after acquiring an additional 6,690 shares during the quarter. Tower Bridge Advisors’ holdings in Enterprise Products Partners were worth $5,546,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of EPD. Tompkins Financial Corp boosted its stake in shares of Enterprise Products Partners by 150.3% in the 2nd quarter. Tompkins Financial Corp now owns 3,830 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 2,300 shares during the last quarter. Stelac Advisory Services LLC purchased a new position in shares of Enterprise Products Partners in the 2nd quarter worth $109,000. Poehling Capital Management LLC purchased a new position in shares of Enterprise Products Partners in the 2nd quarter worth $111,000. Spectrum Financial Alliance Ltd LLC purchased a new position in shares of Enterprise Products Partners in the 1st quarter worth $100,000. Finally, Private Capital Group LLC boosted its stake in shares of Enterprise Products Partners by 46,766.7% in the 1st quarter. Private Capital Group LLC now owns 4,218 shares of the oil and gas producer’s stock worth $103,000 after buying an additional 4,209 shares during the last quarter. Institutional investors and hedge funds own 36.59% of the company’s stock.
In related news, CEO Aj Teague bought 3,390 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The shares were bought at an average cost of $29.48 per share, with a total value of $99,937.20. Following the acquisition, the chief executive officer now owns 1,616,790 shares in the company, valued at $47,662,969.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 37.50% of the stock is currently owned by company insiders.
Enterprise Products Partners stock traded down $0.04 during trading on Tuesday, reaching $29.32. The company had a trading volume of 31,010 shares, compared to its average volume of 4,415,565. Enterprise Products Partners L.P. has a 52 week low of $23.10 and a 52 week high of $30.05. The stock has a market cap of $62.22 billion, a P/E ratio of 22.26, a P/E/G ratio of 5.70 and a beta of 0.94. 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 (NYSE:EPD) last announced its earnings results on Wednesday, August 1st. The oil and gas producer reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.07. Enterprise Products Partners had a return on equity of 14.42% and a net margin of 8.95%. The company had revenue of $8.47 billion for the quarter, compared to analysts’ expectations of $8.55 billion. During the same period last year, the firm earned $0.30 EPS. Enterprise Products Partners’s revenue for the quarter was up 28.1% compared to the same quarter last year. analysts predict that Enterprise Products Partners L.P. will post 1.68 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 8th. Investors of record on Tuesday, July 31st were issued a $0.43 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.43. This represents a $1.72 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date of this dividend was Monday, July 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 130.30%.
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.
See Also: Leveraged Buyout (LBO) Explained
Want to see what other hedge funds are holding EPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enterprise Products Partners L.P. (NYSE:EPD).
Receive News & Ratings for Enterprise Products Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enterprise Products Partners and related companies with MarketBeat.com's FREE daily email newsletter.