A. D. Beadell Investment Counsel Inc. decreased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 5.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 193,735 shares of the oil and gas producer’s stock after selling 11,800 shares during the quarter. Enterprise Products Partners comprises 3.9% of A. D. Beadell Investment Counsel Inc.’s portfolio, making the stock its 3rd largest position. A. D. Beadell Investment Counsel Inc.’s holdings in Enterprise Products Partners were worth $4,721,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sargent Bickham Lagudis LLC purchased a new position in shares of Enterprise Products Partners in the second quarter valued at $25,000. Mark Sheptoff Financial Planning LLC boosted its stake in Enterprise Products Partners by 64.5% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 400 shares during the last quarter. Zullo Investment Group Inc. boosted its stake in Enterprise Products Partners by 133.1% during the 1st quarter. Zullo Investment Group Inc. now owns 1,000 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 571 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Enterprise Products Partners during the first quarter worth $26,000. Finally, Fairfield Bush & CO. acquired a new stake in shares of Enterprise Products Partners during the first quarter worth $31,000. Institutional investors and hedge funds own 27.29% of the company’s stock.
Enterprise Products Partners Price Performance
Shares of NYSE:EPD traded down $1.24 during trading hours on Friday, hitting $23.68. 243,682 shares of the company’s stock traded hands, compared to its average volume of 4,133,797. Enterprise Products Partners L.P. has a 52 week low of $20.42 and a 52 week high of $28.65. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.65 and a current ratio of 0.87. The company’s fifty day simple moving average is $26.30 and its two-hundred day simple moving average is $26.00. The company has a market cap of $51.60 billion, a price-to-earnings ratio of 11.23 and a beta of 1.15.
Enterprise Products Partners Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 8.02%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Thursday, July 28th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 85.59%.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on EPD shares. Raymond James increased their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 4th. UBS Group increased their target price on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, July 8th. TD Securities increased their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Finally, US Capital Advisors reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Wednesday, June 1st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.
Insiders Place Their Bets
In other news, Director John R. Rutherford bought 6,500 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was bought at an average cost of $25.78 per share, for a total transaction of $167,570.00. Following the completion of the acquisition, the director now directly owns 113,941 shares in the company, valued at approximately $2,937,398.98. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 37.50% of the company’s stock.
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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