Gilman Hill Asset Management LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 203,152 shares of the oil and gas producer’s stock after purchasing an additional 1,659 shares during the quarter. Enterprise Products Partners makes up about 1.2% of Gilman Hill Asset Management LLC’s investment portfolio, making the stock its 28th largest position. Gilman Hill Asset Management LLC’s holdings in Enterprise Products Partners were worth $3,208,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Blackstone Group Inc raised its position in Enterprise Products Partners by 238.0% in the 2nd quarter. Blackstone Group Inc now owns 76,906,182 shares of the oil and gas producer’s stock valued at $1,397,385,000 after purchasing an additional 54,149,658 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in Enterprise Products Partners by 0.9% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 16,603,940 shares of the oil and gas producer’s stock valued at $301,694,000 after purchasing an additional 153,258 shares during the last quarter. Chickasaw Capital Management LLC raised its position in Enterprise Products Partners by 0.5% in the 2nd quarter. Chickasaw Capital Management LLC now owns 10,955,569 shares of the oil and gas producer’s stock valued at $199,063,000 after purchasing an additional 58,665 shares during the last quarter. Bank of Montreal Can raised its position in Enterprise Products Partners by 31.4% in the 2nd quarter. Bank of Montreal Can now owns 9,306,162 shares of the oil and gas producer’s stock valued at $160,531,000 after purchasing an additional 2,221,464 shares during the last quarter. Finally, Brookfield Asset Management Inc. bought a new position in Enterprise Products Partners in the 2nd quarter valued at $162,401,000. Hedge funds and other institutional investors own 32.49% of the company’s stock.
In other Enterprise Products Partners news, COO Graham W. Bacon bought 10,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was purchased at an average cost of $17.50 per share, with a total value of $175,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders acquired 35,000 shares of company stock valued at $345,300. Insiders own 37.50% of the company’s stock.
Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Enterprise Products Partners had a return on equity of 18.06% and a net margin of 15.41%. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $7.52 billion. During the same period in the previous year, the firm earned $0.55 earnings per share. The firm’s quarterly revenue was down 30.5% compared to the same quarter last year. Analysts expect that Enterprise Products Partners L.P. will post 2.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Friday, October 30th will be paid a $0.445 dividend. The ex-dividend date is Thursday, October 29th. This represents a $1.78 dividend on an annualized basis and a yield of 10.34%. Enterprise Products Partners’s payout ratio is 82.79%.
Several brokerages have issued reports on EPD. SunTrust Banks lifted their price objective on Enterprise Products Partners from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Wells Fargo & Company lifted their target price on Enterprise Products Partners from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Royal Bank of Canada reissued a “buy” rating and issued a $28.00 target price on shares of Enterprise Products Partners in a research note on Thursday, August 6th. Piper Sandler lowered their target price on Enterprise Products Partners from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, October 9th. Finally, Citigroup lowered their target price on Enterprise Products Partners from $31.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $24.36.
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.
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