FTB Advisors Inc. Sells 5,714 Shares of Enterprise Products Partners L.P. (EPD)
FTB Advisors Inc. decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,597 shares of the oil and gas producer’s stock after selling 5,714 shares during the quarter. FTB Advisors Inc.’s holdings in Enterprise Products Partners were worth $1,338,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. Poehling Capital Management LLC purchased a new position in shares of Enterprise Products Partners during the 2nd quarter valued at approximately $111,000. Arlington Partners LLC purchased a new position in shares of Enterprise Products Partners during the 3rd quarter valued at approximately $115,000. Horrell Capital Management Inc. purchased a new position in shares of Enterprise Products Partners during the 2nd quarter valued at approximately $122,000. Squar Milner Financial Services LLC purchased a new position in shares of Enterprise Products Partners during the 2nd quarter valued at approximately $124,000. Finally, Thompson Davis & CO. Inc. boosted its stake in shares of Enterprise Products Partners by 82.0% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 4,550 shares of the oil and gas producer’s stock valued at $126,000 after buying an additional 2,050 shares during the last quarter. 36.47% of the stock is owned by institutional investors.
Shares of EPD opened at $26.88 on Tuesday. Enterprise Products Partners L.P. has a 12-month low of $23.10 and a 12-month high of $30.05. The firm has a market cap of $58.16 billion, a P/E ratio of 20.36, a PEG ratio of 4.79 and a beta of 0.87. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Wednesday, October 31st were paid a dividend of $0.4325 per share. The ex-dividend date of this dividend was Tuesday, October 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.43. This represents a $1.73 annualized dividend and a yield of 6.44%. Enterprise Products Partners’s dividend payout ratio (DPR) is 131.06%.
Several equities analysts have recently commented on the company. Zacks Investment Research cut Enterprise Products Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Stifel Nicolaus increased their target price on Enterprise Products Partners from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Barclays increased their target price on Enterprise Products Partners from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Bank of America increased their target price on Enterprise Products Partners from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Finally, Wells Fargo & Co increased their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. Enterprise Products Partners currently has an average rating of “Buy” and a consensus price target of $32.83.
In other Enterprise Products Partners news, Director James T. Hackett sold 25,000 shares of the firm’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $26.94, for a total value of $673,500.00. Following the sale, the director now directly owns 226,832 shares in the company, valued at $6,110,854.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Aj Teague bought 15,005 shares of the business’s stock in a transaction on Wednesday, November 14th. The stock was bought at an average price of $26.32 per share, for a total transaction of $394,931.60. The disclosure for this purchase can be found here. Company insiders own 37.50% of the company’s stock.
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About Enterprise Products Partners
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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