Jupiter Asset Management Ltd. lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 73.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 164,602 shares of the oil and gas producer’s stock after selling 464,388 shares during the period. Jupiter Asset Management Ltd.’s holdings in Enterprise Products Partners were worth $3,560,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. JRM Investment Counsel LLC raised its stake in shares of Enterprise Products Partners by 1.4% during the third quarter. JRM Investment Counsel LLC now owns 760,923 shares of the oil and gas producer’s stock valued at $16,466,000 after acquiring an additional 10,734 shares during the last quarter. Intrua Financial LLC raised its stake in shares of Enterprise Products Partners by 94.2% during the third quarter. Intrua Financial LLC now owns 70,009 shares of the oil and gas producer’s stock valued at $1,671,000 after acquiring an additional 33,959 shares during the last quarter. Dividend Assets Capital LLC raised its stake in shares of Enterprise Products Partners by 1.1% during the third quarter. Dividend Assets Capital LLC now owns 709,365 shares of the oil and gas producer’s stock valued at $15,351,000 after acquiring an additional 7,711 shares during the last quarter. E&G Advisors LP bought a new position in shares of Enterprise Products Partners during the third quarter valued at $1,184,000. Finally, CFM Wealth Partners LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $3,217,000. 26.79% of the stock is owned by hedge funds and other institutional investors.
EPD has been the subject of several recent analyst reports. Morgan Stanley cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $29.00 to $27.00 in a research report on Friday, January 7th. Mizuho raised their price target on shares of Enterprise Products Partners from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company reduced their price target on shares of Enterprise Products Partners from $30.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, December 16th. Zacks Investment Research cut shares of Enterprise Products Partners from a “hold” rating to a “sell” rating and set a $23.00 price target for the company. in a report on Tuesday, September 28th. Finally, Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Tuesday, September 28th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $26.71.
EPD opened at $23.99 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.08 and a quick ratio of 0.82. The company’s 50-day moving average is $22.07 and its 200 day moving average is $22.64. Enterprise Products Partners L.P. has a fifty-two week low of $20.03 and a fifty-two week high of $25.69. The firm has a market capitalization of $52.35 billion, a P/E ratio of 13.48 and a beta of 1.37.
Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, November 2nd. The oil and gas producer reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. Enterprise Products Partners had a net margin of 10.81% and a return on equity of 18.67%. The company had revenue of $10.83 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same period last year, the firm earned $0.48 earnings per share. The firm’s revenue was up 56.5% on a year-over-year basis. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 11th. Shareholders of record on Monday, January 31st will be given a $0.465 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, January 27th. This represents a $1.86 annualized dividend and a yield of 7.75%. Enterprise Products Partners’s payout ratio is currently 101.12%.
Enterprise Products Partners Company Profile
Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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