Orleans Capital Management Corp LA Has $1.44 Million Stock Holdings in Enterprise Products Partners L.P. $EPD

Orleans Capital Management Corp LA decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 28.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,152 shares of the oil and gas producer’s stock after selling 17,986 shares during the period. Orleans Capital Management Corp LA’s holdings in Enterprise Products Partners were worth $1,443,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Winnow Wealth LLC bought a new position in Enterprise Products Partners during the second quarter worth about $28,000. Traub Capital Management LLC acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $31,000. Abich Financial Wealth Management LLC bought a new stake in shares of Enterprise Products Partners in the third quarter valued at approximately $32,000. Financial Consulate Inc. acquired a new stake in Enterprise Products Partners during the third quarter worth approximately $33,000. Finally, Davis Capital Management acquired a new stake in Enterprise Products Partners during the third quarter worth approximately $45,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insider Buying and Selling

In related news, Director John R. Rutherford bought 15,000 shares of the business’s stock in a transaction on Monday, December 29th. The shares were purchased at an average cost of $32.09 per share, with a total value of $481,350.00. Following the acquisition, the director owned 173,586 shares of the company’s stock, valued at $5,570,374.74. This represents a 9.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $37.60 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.60 and a current ratio of 1.04. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $37.77. The stock has a market cap of $81.28 billion, a PE ratio of 14.14, a PEG ratio of 2.65 and a beta of 0.59. The firm’s fifty day moving average price is $34.29 and its two-hundred day moving average price is $32.57.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, beating the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The firm had revenue of $13.79 billion during the quarter, compared to the consensus estimate of $12.44 billion. During the same period last year, the company earned $0.74 earnings per share. The business’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.20 annualized dividend and a yield of 5.9%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is 82.71%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EPD. TD Cowen upped their target price on Enterprise Products Partners from $33.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, February 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Thursday, January 22nd. Scotiabank reiterated a “sector perform” rating and set a $37.00 price objective (up from $35.00) on shares of Enterprise Products Partners in a research note on Thursday, February 5th. Jefferies Financial Group restated a “hold” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Finally, Raymond James Financial downgraded shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target for the company. in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Hold” and an average target price of $36.29.

Enterprise Products Partners Company Profile

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.