Janney Montgomery Scott LLC Has $13.92 Million Holdings in Enterprise Products Partners L.P. (EPD)
Janney Montgomery Scott LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 484,461 shares of the oil and gas producer’s stock after selling 12,333 shares during the period. Janney Montgomery Scott LLC’s holdings in Enterprise Products Partners were worth $13,919,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of EPD. Tompkins Financial Corp increased its stake in Enterprise Products Partners by 150.3% in the 2nd quarter. Tompkins Financial Corp now owns 3,830 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 2,300 shares in the last quarter. Stelac Advisory Services LLC purchased a new stake in Enterprise Products Partners in the 2nd quarter worth $109,000. Poehling Capital Management LLC purchased a new stake in Enterprise Products Partners in the 2nd quarter worth $111,000. Arlington Partners LLC purchased a new stake in Enterprise Products Partners in the 3rd quarter worth $115,000. Finally, Horrell Capital Management Inc. purchased a new stake in Enterprise Products Partners in the 2nd quarter worth $122,000. Institutional investors and hedge funds own 36.37% of the company’s stock.
EPD opened at $27.27 on Friday. Enterprise Products Partners L.P. has a 52 week low of $23.10 and a 52 week high of $30.05. The stock has a market cap of $58.63 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 4.83 and a beta of 0.87. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 1.00.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Wednesday, October 31st were issued a dividend of $0.4325 per share. This represents a $1.73 annualized dividend and a dividend yield of 6.34%. The ex-dividend date was Tuesday, October 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.43. Enterprise Products Partners’s dividend payout ratio is 131.06%.
In related news, Director James T. Hackett sold 25,000 shares of the stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $26.94, for a total value of $673,500.00. Following the completion of the transaction, the director now owns 226,832 shares of the company’s stock, valued at approximately $6,110,854.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 37.50% of the stock is currently owned by company insiders.
A number of brokerages have issued reports on EPD. ValuEngine lowered Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Wells Fargo & Co increased their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, November 1st. Bank of America set a $35.00 price target on Enterprise Products Partners and gave the stock a “buy” rating in a research note on Thursday, November 1st. Barclays set a $33.00 price target on Enterprise Products Partners and gave the stock a “buy” rating in a research note on Friday, October 12th. Finally, Credit Suisse Group began coverage on Enterprise Products Partners in a research note on Thursday, October 11th. They issued an “outperform” rating and a $36.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $32.83.
WARNING: This news story was first reported by Daily Political and is the property of of Daily Political. If you are reading this news story on another site, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The correct version of this news story can be viewed at https://www.dailypolitical.com/2018/11/10/janney-montgomery-scott-llc-has-13-92-million-holdings-in-enterprise-products-partners-l-p-epd.html.
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.
Featured Article: Stop Order Uses For Individual Investors
Receive News & Ratings for Enterprise Products Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enterprise Products Partners and related companies with MarketBeat.com's FREE daily email newsletter.