Atlas Brown Inc. increased its stake in Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 8.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,990 shares of the oil and gas producer’s stock after buying an additional 1,200 shares during the period. Atlas Brown Inc.’s holdings in Enterprise Products Partners were worth $390,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. grew its position in Enterprise Products Partners by 4.7% in the first quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock worth $646,548,000 after acquiring an additional 1,114,690 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Enterprise Products Partners by 2.8% in the first quarter. Neuberger Berman Group LLC now owns 18,451,802 shares of the oil and gas producer’s stock worth $476,241,000 after acquiring an additional 501,154 shares during the period. American Century Companies Inc. raised its position in shares of Enterprise Products Partners by 57.5% during the 1st quarter. American Century Companies Inc. now owns 15,180,587 shares of the oil and gas producer’s stock worth $391,811,000 after purchasing an additional 5,543,237 shares during the last quarter. Energy Income Partners LLC grew its stake in Enterprise Products Partners by 0.3% during the 4th quarter. Energy Income Partners LLC now owns 13,931,284 shares of the oil and gas producer’s stock valued at $305,931,000 after acquiring an additional 38,821 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Enterprise Products Partners by 12.5% during the 1st quarter. Clearbridge Investments LLC now owns 11,888,708 shares of the oil and gas producer’s stock valued at $306,848,000 after acquiring an additional 1,323,267 shares in the last quarter. 27.29% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, Director John R. Rutherford acquired 6,500 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was purchased at an average price of $25.78 per share, for a total transaction of $167,570.00. Following the completion of the acquisition, the director now directly owns 113,941 shares in the company, valued at approximately $2,937,398.98. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 37.50% of the stock is currently owned by corporate insiders.
Enterprise Products Partners Stock Performance
Enterprise Products Partners (NYSE:EPD – Get Rating) last released its earnings results on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.01. The company had revenue of $16.06 billion for the quarter, compared to analyst estimates of $11.96 billion. Enterprise Products Partners had a return on equity of 18.97% and a net margin of 9.54%. Enterprise Products Partners’s quarterly revenue was up 69.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 EPS. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.52 EPS for the current year.
Enterprise Products Partners Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were issued a $0.475 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.47. This represents a $1.90 dividend on an annualized basis and a yield of 8.06%. The ex-dividend date was Thursday, July 28th. Enterprise Products Partners’s payout ratio is presently 85.59%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on EPD shares. TD Securities increased their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. US Capital Advisors reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Wednesday, June 1st. Raymond James lifted their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 4th. Finally, UBS Group boosted their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, July 8th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.00.
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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