Duff & Phelps Investment Management Co. increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,911,325 shares of the oil and gas producer’s stock after purchasing an additional 189,050 shares during the quarter. Duff & Phelps Investment Management Co. owned approximately 0.13% of Enterprise Products Partners worth $84,050,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in EPD. Mcmillion Capital Management Inc. purchased a new position in Enterprise Products Partners during the second quarter worth about $29,000. TRUE Private Wealth Advisors bought a new stake in Enterprise Products Partners in the second quarter worth about $41,000. Knuff & Co LLC bought a new stake in Enterprise Products Partners in the first quarter worth about $42,000. Tompkins Financial Corp raised its position in Enterprise Products Partners by 163.8% in the first quarter. Tompkins Financial Corp now owns 1,530 shares of the oil and gas producer’s stock worth $44,000 after acquiring an additional 950 shares during the period. Finally, TCG Advisors LP bought a new stake in Enterprise Products Partners in the first quarter worth about $44,000. Institutional investors and hedge funds own 36.68% of the company’s stock.
NYSE:EPD traded up $0.39 during mid-day trading on Friday, hitting $28.25. 24,354 shares of the stock traded hands, compared to its average volume of 3,996,136. The business’s 50-day moving average price is $29.53 and its 200 day moving average price is $28.84. The company has a market cap of $61.24 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 3.28 and a beta of 0.88. Enterprise Products Partners L.P. has a 12-month low of $23.33 and a 12-month high of $30.86. The company has a quick ratio of 0.58, a current ratio of 1.00 and a debt-to-equity ratio of 1.06.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st were paid a dividend of $0.44 per share. The ex-dividend date was Tuesday, July 30th. This represents a $1.76 annualized dividend and a yield of 6.23%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s payout ratio is currently 90.72%.
In other news, Director Murray E. Brasseux acquired 5,000 shares of Enterprise Products Partners stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $30.00 per share, with a total value of $150,000.00. Following the completion of the purchase, the director now owns 17,885 shares in the company, valued at $536,550. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 37.50% of the stock is currently owned by insiders.
Several analysts have commented on EPD shares. Johnson Rice started coverage on shares of Enterprise Products Partners in a research report on Thursday, May 30th. They issued a “buy” rating and a $35.00 price objective on the stock. ValuEngine lowered shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Stifel Nicolaus lifted their price objective on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Piper Jaffray Companies started coverage on shares of Enterprise Products Partners in a research report on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $33.57.
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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