Mitchell Mcleod Pugh & Williams Inc. Raises Holdings in Enterprise Products Partners L.P. $EPD

Mitchell Mcleod Pugh & Williams Inc. raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 76.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 85,942 shares of the oil and gas producer’s stock after buying an additional 37,345 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Enterprise Products Partners were worth $3,000,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Miller Howard Investments Inc. NY grew its stake in shares of Enterprise Products Partners by 1.0% during the fourth quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock worth $99,775,000 after acquiring an additional 31,733 shares during the last quarter. Royal Palms Capital LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $1,830,000. PNC Financial Services Group Inc. grew its stake in shares of Enterprise Products Partners by 3.0% during the third quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer’s stock worth $39,153,000 after acquiring an additional 36,339 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Enterprise Products Partners by 20.2% during the third quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer’s stock worth $7,189,000 after acquiring an additional 38,660 shares during the last quarter. Finally, Oxbow Advisors LLC grew its stake in shares of Enterprise Products Partners by 3.0% during the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after acquiring an additional 39,052 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $37.94 on Thursday. The business’s 50 day moving average price is $38.02 and its 200 day moving average price is $35.63. The firm has a market cap of $82.02 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.33 and a beta of 0.49. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The firm had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. Enterprise Products Partners’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio is presently 81.48%.

Insider Buying and Selling

In other Enterprise Products Partners news, CEO Aj Teague purchased 2,665 shares of the stock in a transaction on Friday, March 20th. The shares were bought at an average cost of $37.55 per share, with a total value of $100,070.75. Following the completion of the acquisition, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 32.60% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of research analyst reports. TD Cowen restated a “hold” rating and set a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Wall Street Zen lowered shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Stifel Nicolaus boosted their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. The Goldman Sachs Group reissued a “neutral” rating and set a $39.00 price objective on shares of Enterprise Products Partners in a report on Thursday, May 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Hold” and a consensus price target of $39.67.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.