Boston Private Wealth LLC Sells 1,100 Shares of Enterprise Products Partners L.P. (NYSE:EPD)
Boston Private Wealth LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 68,301 shares of the oil and gas producer’s stock after selling 1,100 shares during the quarter. Boston Private Wealth LLC’s holdings in Enterprise Products Partners were worth $1,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPD. Mcmillion Capital Management Inc. bought a new position in Enterprise Products Partners in the 2nd quarter worth $29,000. TCI Wealth Advisors Inc. increased its stake in Enterprise Products Partners by 400.0% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 800 shares in the last quarter. Centersquare Investment Management LLC purchased a new stake in Enterprise Products Partners in the 2nd quarter worth $34,000. TRUE Private Wealth Advisors purchased a new stake in Enterprise Products Partners in the 2nd quarter worth $41,000. Finally, Massey Quick Simon & CO. LLC increased its stake in Enterprise Products Partners by 1,242.6% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 1,450 shares of the oil and gas producer’s stock worth $41,000 after buying an additional 1,342 shares in the last quarter. 36.77% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the company. Scotia Howard Weill assumed coverage on Enterprise Products Partners in a research note on Wednesday, September 4th. They issued an “outperform” rating for the company. Royal Bank of Canada assumed coverage on Enterprise Products Partners in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target for the company. Stifel Nicolaus increased their price target on Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Jaffray Companies assumed coverage on Enterprise Products Partners in a research note on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price target for the company. Finally, ValuEngine lowered Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $33.50.
Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, October 28th. The oil and gas producer reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.05). The firm had revenue of $7.96 billion for the quarter, compared to analysts’ expectations of $8.97 billion. Enterprise Products Partners had a net margin of 14.07% and a return on equity of 19.78%. The company’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 EPS. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.19 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.4425 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, October 30th. This represents a $1.77 dividend on an annualized basis and a dividend yield of 6.72%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 91.24%.
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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