Pinnacle Financial Partners Inc. acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to its most recent filing with the SEC. The institutional investor acquired 42,800 shares of the oil and gas producer’s stock, valued at approximately $1,159,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EPD. First Financial Corp IN increased its position in Enterprise Products Partners L.P. by 11.1% in the second quarter. First Financial Corp IN now owns 4,000 shares of the oil and gas producer’s stock worth $108,000 after buying an additional 400 shares during the last quarter. Baystate Wealth Management LLC increased its position in Enterprise Products Partners L.P. by 1,050.7% in the first quarter. Baystate Wealth Management LLC now owns 4,361 shares of the oil and gas producer’s stock worth $122,000 after buying an additional 3,982 shares during the last quarter. Camarda Financial Advisors LLC increased its position in Enterprise Products Partners L.P. by 0.6% in the second quarter. Camarda Financial Advisors LLC now owns 4,835 shares of the oil and gas producer’s stock worth $131,000 after buying an additional 27 shares during the last quarter. Intellectus Partners LLC increased its position in Enterprise Products Partners L.P. by 8.0% in the first quarter. Intellectus Partners LLC now owns 5,400 shares of the oil and gas producer’s stock worth $149,000 after buying an additional 399 shares during the last quarter. Finally, Archford Capital Strategies LLC increased its position in Enterprise Products Partners L.P. by 42.4% in the first quarter. Archford Capital Strategies LLC now owns 6,959 shares of the oil and gas producer’s stock worth $192,000 after buying an additional 2,071 shares during the last quarter. Hedge funds and other institutional investors own 37.85% of the company’s stock.

Shares of Enterprise Products Partners L.P. (NYSE:EPD) opened at 26.07 on Friday. Enterprise Products Partners L.P. has a 12-month low of $24.01 and a 12-month high of $30.25. The firm has a market cap of $56.00 billion, a PE ratio of 20.51 and a beta of 0.89. The company has a 50 day moving average of $26.48 and a 200-day moving average of $27.12.

Enterprise Products Partners L.P. (NYSE:EPD) last issued its earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.03. Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. The firm had revenue of $6.61 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the prior year, the firm posted $0.27 EPS. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. Equities research analysts forecast that Enterprise Products Partners L.P. will post $1.37 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 31st were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.44%. The ex-dividend date of this dividend was Thursday, July 27th. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. Enterprise Products Partners L.P.’s payout ratio is currently 132.28%.

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A number of research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Enterprise Products Partners L.P. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Stifel Nicolaus restated a “buy” rating and issued a $30.00 price target on shares of Enterprise Products Partners L.P. in a research report on Friday, August 11th. Sanford C. Bernstein restated an “outperform” rating on shares of Enterprise Products Partners L.P. in a research report on Thursday, August 10th. Barclays PLC restated an “overweight” rating and issued a $31.00 price target (down from $33.00) on shares of Enterprise Products Partners L.P. in a research report on Friday, August 4th. Finally, BMO Capital Markets restated a “buy” rating and issued a $33.00 price target on shares of Enterprise Products Partners L.P. in a research report on Wednesday, July 12th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $31.59.

Enterprise Products Partners L.P. Company Profile

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

Institutional Ownership by Quarter for Enterprise Products Partners L.P. (NYSE:EPD)

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