Trust Asset Management LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 219,461 shares of the company’s stock, valued at approximately $6,064,000. Enterprise Products Partners L.P. comprises approximately 2.4% of Trust Asset Management LLC’s holdings, making the stock its 11th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Enterprise Products Partners L.P. by 5.6% in the first quarter. State Street Corp now owns 1,121,620 shares of the company’s stock worth $27,615,000 after buying an additional 59,921 shares during the last quarter. AXA boosted its position in Enterprise Products Partners L.P. by 15.0% in the first quarter. AXA now owns 24,142 shares of the company’s stock worth $594,000 after buying an additional 3,142 shares during the last quarter. AMP Capital Investors Ltd acquired a new position in Enterprise Products Partners L.P. during the first quarter worth about $816,000. Envestnet Asset Management Inc. boosted its position in Enterprise Products Partners L.P. by 55.1% in the first quarter. Envestnet Asset Management Inc. now owns 81,755 shares of the company’s stock worth $2,013,000 after buying an additional 29,046 shares during the last quarter. Finally, Babson Capital Management LLC boosted its position in Enterprise Products Partners L.P. by 2.7% in the first quarter. Babson Capital Management LLC now owns 304,759 shares of the company’s stock worth $7,503,000 after buying an additional 8,000 shares during the last quarter. 35.76% of the stock is owned by institutional investors and hedge funds.

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

Shares of Enterprise Products Partners L.P. (NYSE:EPD) opened at 25.24 on Friday. The stock has a market cap of $53.06 billion, a price-to-earnings ratio of 20.54 and a beta of 0.90. The company has a 50-day moving average price of $26.41 and a 200 day moving average price of $27.28. Enterprise Products Partners L.P. has a one year low of $19.00 and a one year high of $30.11.

Enterprise Products Partners L.P. (NYSE:EPD) last released its earnings results on Thursday, October 27th. The company reported $0.30 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. Enterprise Products Partners L.P. had a return on equity of 11.95% and a net margin of 11.19%. The business had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.87 billion. During the same period in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities research analysts expect that Enterprise Products Partners L.P. will post $1.25 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Monday, October 31st were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 6.42%. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, October 27th. Enterprise Products Partners L.P.’s payout ratio is 131.71%.

EPD has been the topic of a number of research analyst reports. Jefferies Group restated a “buy” rating and set a $33.00 price target on shares of Enterprise Products Partners L.P. in a report on Sunday, October 16th. Vetr cut Enterprise Products Partners L.P. from a “strong-buy” rating to a “buy” rating and set a $30.56 target price on the stock. in a report on Wednesday, September 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 target price on shares of Enterprise Products Partners L.P. in a report on Monday, October 31st. Credit Suisse Group AG upgraded Enterprise Products Partners L.P. from a “neutral” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Monday, September 19th. Finally, Wolfe Research started coverage on Enterprise Products Partners L.P. in a report on Friday, October 7th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Enterprise Products Partners L.P. presently has an average rating of “Buy” and a consensus target price of $31.62.

In related news, Director Carin Marcy Barth bought 4,000 shares of the company’s stock in a transaction on Wednesday, November 16th. The shares were acquired at an average cost of $25.27 per share, with a total value of $101,080.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 37.50% of the stock is owned by company insiders.

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.

5 Day Chart for NYSE:EPD

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