Paragon Capital Management LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 12.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,043 shares of the oil and gas producer’s stock after acquiring an additional 676 shares during the quarter. Paragon Capital Management LLC’s holdings in Enterprise Products Partners were worth $174,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in EPD. Comerica Securities Inc. grew its holdings in Enterprise Products Partners by 39.0% in the fourth quarter. Comerica Securities Inc. now owns 35,608 shares of the oil and gas producer’s stock worth $876,000 after purchasing an additional 9,990 shares during the period. Geode Capital Management LLC raised its position in Enterprise Products Partners by 82.1% in the fourth quarter. Geode Capital Management LLC now owns 17,220 shares of the oil and gas producer’s stock worth $423,000 after acquiring an additional 7,766 shares during the period. Boston Advisors LLC raised its position in Enterprise Products Partners by 6.9% in the first quarter. Boston Advisors LLC now owns 17,770 shares of the oil and gas producer’s stock worth $517,000 after acquiring an additional 1,150 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Enterprise Products Partners in the first quarter worth $11,203,000. Finally, Northern Oak Wealth Management Inc. increased its stake in shares of Enterprise Products Partners by 17.0% in the first quarter. Northern Oak Wealth Management Inc. now owns 9,650 shares of the oil and gas producer’s stock worth $281,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors own 36.52% of the company’s stock.
Shares of Enterprise Products Partners stock traded down $0.48 during trading on Friday, hitting $28.48. The stock had a trading volume of 1,204,259 shares, compared to its average volume of 4,096,282. The firm’s fifty day simple moving average is $29.51 and its 200-day simple moving average is $28.86. The stock has a market cap of $62.36 billion, a PE ratio of 14.68, a PEG ratio of 3.37 and a beta of 0.88. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.00 and a quick ratio of 0.75. Enterprise Products Partners L.P. has a 12 month low of $23.33 and a 12 month high of $30.86.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st were issued a dividend of $0.44 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date was Tuesday, July 30th. This represents a $1.76 dividend on an annualized basis and a yield of 6.18%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 90.72%.
EPD has been the subject of several research analyst reports. Piper Jaffray Companies assumed coverage on shares of Enterprise Products Partners in a research note on Wednesday, July 17th. They set an “overweight” rating and a $37.00 target price for the company. ValuEngine lowered shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Johnson Rice assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, May 30th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Stifel Nicolaus increased their price objective on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $33.75.
In related news, Director Murray E. Brasseux acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $30.00 per share, for a total transaction of $150,000.00. Following the acquisition, the director now directly owns 17,885 shares of the company’s stock, valued at approximately $536,550. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 37.50% of the company’s stock.
Enterprise Products Partners 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.
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