Enterprise Products Partners L.P. (NYSE:EPD) Position Raised by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. increased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 5.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,100 shares of the oil and gas producer’s stock after buying an additional 500 shares during the period. Beech Hill Advisors Inc.’s holdings in Enterprise Products Partners L.P. were worth $246,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Dubuque Bank & Trust Co. boosted its position in shares of Enterprise Products Partners L.P. by 222.6% in the first quarter. Dubuque Bank & Trust Co. now owns 3,790 shares of the oil and gas producer’s stock worth $105,000 after buying an additional 2,615 shares in the last quarter. First Financial Corp IN boosted its position in shares of Enterprise Products Partners L.P. by 11.1% in the second quarter. First Financial Corp IN now owns 4,000 shares of the oil and gas producer’s stock worth $108,000 after buying an additional 400 shares in the last quarter. Baystate Wealth Management LLC boosted its position in shares of Enterprise Products Partners L.P. by 1,050.7% in the first quarter. Baystate Wealth Management LLC now owns 4,361 shares of the oil and gas producer’s stock worth $122,000 after buying an additional 3,982 shares in the last quarter. Camarda Financial Advisors LLC boosted its position in Enterprise Products Partners L.P. by 0.6% in the second quarter. Camarda Financial Advisors LLC now owns 4,835 shares of the oil and gas producer’s stock valued at $131,000 after buying an additional 27 shares during the period. Finally, Crestwood Advisors Group LLC acquired a new position in Enterprise Products Partners L.P. during the first quarter valued at approximately $140,000. Institutional investors own 38.83% of the company’s stock.

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded up 1.00% during midday trading on Friday, hitting $25.23. The stock had a trading volume of 3,418,793 shares. Enterprise Products Partners L.P. has a 52 week low of $24.01 and a 52 week high of $30.25. The stock has a market cap of $54.19 billion, a PE ratio of 19.85 and a beta of 0.89. The stock has a 50-day moving average of $26.83 and a 200 day moving average of $27.29.

Enterprise Products Partners L.P. (NYSE:EPD) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.03. Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. The firm had revenue of $6.61 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the previous year, the business earned $0.27 earnings per share. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. Analysts anticipate that Enterprise Products Partners L.P. will post $1.38 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 31st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 6.66%. The ex-dividend date was Thursday, July 27th. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. Enterprise Products Partners L.P.’s dividend payout ratio (DPR) is 132.28%.

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Several research firms recently commented on EPD. BMO Capital Markets reiterated a “buy” rating and issued a $33.00 price target on shares of Enterprise Products Partners L.P. in a research note on Wednesday, July 12th. BidaskClub upgraded Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a research note on Saturday. Sanford C. Bernstein reissued an “outperform” rating on shares of Enterprise Products Partners L.P. in a report on Thursday, August 10th. Scotiabank set a $33.00 price objective on Enterprise Products Partners L.P. and gave the company a “buy” rating in a report on Friday, July 21st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price objective on shares of Enterprise Products Partners L.P. in a report on Friday, August 11th. One analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Enterprise Products Partners L.P. currently has a consensus rating of “Buy” and an average target price of $31.62.

About Enterprise Products Partners L.P.

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

Institutional Ownership by Quarter for Enterprise Products Partners L.P. (NYSE:EPD)

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