Family Management Corp Acquires New Stake in Enterprise Products Partners L.P. (EPD)

Family Management Corp purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,596 shares of the oil and gas producer’s stock, valued at approximately $266,000.

Other large investors have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Enterprise Products Partners in the second quarter worth about $333,913,000. BlackRock Inc. raised its stake in shares of Enterprise Products Partners by 321.0% during the second quarter. BlackRock Inc. now owns 13,588,906 shares of the oil and gas producer’s stock valued at $376,005,000 after acquiring an additional 10,360,904 shares in the last quarter. Summit Trail Advisors LLC raised its stake in shares of Enterprise Products Partners by 2,317.4% during the first quarter. Summit Trail Advisors LLC now owns 10,241,168 shares of the oil and gas producer’s stock valued at $10,241,000 after acquiring an additional 9,817,521 shares in the last quarter. Brookfield Asset Management Inc. raised its stake in shares of Enterprise Products Partners by 215.4% during the first quarter. Brookfield Asset Management Inc. now owns 12,347,075 shares of the oil and gas producer’s stock valued at $302,256,000 after acquiring an additional 8,432,139 shares in the last quarter. Finally, Alps Advisors Inc. raised its stake in shares of Enterprise Products Partners by 13.2% during the second quarter. Alps Advisors Inc. now owns 40,898,736 shares of the oil and gas producer’s stock valued at $1,084,226,000 after acquiring an additional 4,777,192 shares in the last quarter. 36.41% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on EPD shares. Zacks Investment Research raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Monday, July 2nd. ValuEngine lowered shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Barclays lifted their price objective on shares of Enterprise Products Partners from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, July 11th. BMO Capital Markets reissued a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a report on Friday, July 13th. Finally, US Capital Advisors reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, July 17th. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $32.50.

NYSE EPD opened at $29.21 on Tuesday. The firm has a market cap of $62.09 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 5.71 and a beta of 0.91. Enterprise Products Partners L.P. has a 1 year low of $23.10 and a 1 year high of $30.05. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.56.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, August 1st. The oil and gas producer reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. The company had revenue of $8.47 billion during the quarter, compared to the consensus estimate of $8.55 billion. Enterprise Products Partners had a net margin of 8.95% and a return on equity of 14.42%. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 earnings per share. On average, equities analysts predict that Enterprise Products Partners L.P. will post 1.68 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Wednesday, October 31st will be given a $0.4325 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 5.92%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.43. Enterprise Products Partners’s dividend payout ratio is 130.30%.

In other news, CEO Aj Teague acquired 3,390 shares of the firm’s stock in a transaction on Thursday, August 2nd. The stock was acquired at an average price of $29.48 per share, for a total transaction of $99,937.20. Following the completion of the transaction, the chief executive officer now owns 1,616,790 shares in the company, valued at approximately $47,662,969.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 37.50% of the company’s stock.

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

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