Parametric Portfolio Associates LLC Acquires 9,746 Shares of Enterprise Products Partners L.P. (NYSE:EPD)
Parametric Portfolio Associates LLC increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,359,190 shares of the oil and gas producer’s stock after acquiring an additional 9,746 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Enterprise Products Partners were worth $38,846,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Mcmillion Capital Management Inc. purchased a new position in shares of Enterprise Products Partners during the 2nd quarter worth $29,000. TCI Wealth Advisors Inc. grew its position in shares of Enterprise Products Partners by 400.0% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 1,000 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 800 shares during the period. D Orazio & Associates Inc. purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter worth $30,000. Centersquare Investment Management LLC purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter worth $34,000. Finally, TRUE Private Wealth Advisors purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter worth $41,000. 36.95% of the stock is currently owned by institutional investors.
Several equities analysts recently weighed in on the company. Zacks Investment Research downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Monday, August 26th. Scotia Howard Weill began coverage on Enterprise Products Partners in a research report 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 report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price target for the company. ValuEngine downgraded Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, Scotiabank began coverage on Enterprise Products Partners in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $33.88.
Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, October 28th. The oil and gas producer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates 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 19.59%. The firm’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.4425 per share. The ex-dividend date was Wednesday, October 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.77 dividend on an annualized basis and a yield of 6.82%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 91.24%.
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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