Enterprise Products Partners L.P. $EPD Shares Purchased by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 80,952 shares of the oil and gas producer’s stock after purchasing an additional 1,482 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Enterprise Products Partners were worth $2,510,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC raised its stake in shares of Enterprise Products Partners by 7.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer’s stock valued at $4,703,000 after purchasing an additional 9,979 shares during the period. Forbes J M & Co. LLP acquired a new position in Enterprise Products Partners in the first quarter valued at about $290,000. Corigliano Investment Advisers LLC acquired a new stake in shares of Enterprise Products Partners in the 1st quarter valued at $4,384,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Enterprise Products Partners by 1.6% during the 2nd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,957,500 shares of the oil and gas producer’s stock valued at $60,702,000 after acquiring an additional 31,652 shares in the last quarter. Finally, Nuveen LLC bought a new position in Enterprise Products Partners in the 1st quarter valued at approximately $22,284,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Down 0.4%

EPD opened at $31.10 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The stock has a market cap of $67.33 billion, a price-to-earnings ratio of 11.56, a P/E/G ratio of 2.23 and a beta of 0.64. The stock’s 50 day moving average price is $31.44 and its 200-day moving average price is $31.33. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The business had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 earnings per share. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s payout ratio is 81.04%.

Analysts Set New Price Targets

Several equities research analysts recently commented on EPD shares. TD Cowen assumed coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a “hold” rating and a $33.00 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Scotiabank lowered their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, September 19th. Barclays dropped their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. Finally, Stifel Nicolaus dropped their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.82.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.