ST Germain D J Co. Inc. Acquires 2,700 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

ST Germain D J Co. Inc. raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 13.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 23,160 shares of the oil and gas producer’s stock after purchasing an additional 2,700 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Enterprise Products Partners were worth $669,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Neuberger Berman Group LLC raised its stake in Enterprise Products Partners by 4.6% in the first quarter. Neuberger Berman Group LLC now owns 19,942,261 shares of the oil and gas producer’s stock valued at $580,320,000 after buying an additional 884,418 shares during the period. BlackRock Inc. raised its stake in Enterprise Products Partners by 10.9% in the first quarter. BlackRock Inc. now owns 16,970,293 shares of the oil and gas producer’s stock valued at $493,835,000 after buying an additional 1,665,379 shares during the period. Chickasaw Capital Management LLC raised its stake in Enterprise Products Partners by 3.4% in the first quarter. Chickasaw Capital Management LLC now owns 11,752,297 shares of the oil and gas producer’s stock valued at $341,992,000 after buying an additional 391,329 shares during the period. Bank of Montreal Can raised its stake in Enterprise Products Partners by 86.9% in the first quarter. Bank of Montreal Can now owns 8,937,630 shares of the oil and gas producer’s stock valued at $260,084,000 after buying an additional 4,156,710 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Enterprise Products Partners by 27.6% in the first quarter. Wells Fargo & Company MN now owns 6,200,604 shares of the oil and gas producer’s stock valued at $180,437,000 after buying an additional 1,341,023 shares during the period. Hedge funds and other institutional investors own 36.64% of the company’s stock.

Several research firms have issued reports on EPD. Zacks Investment Research upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Thursday, April 11th. Stifel Nicolaus upped their price objective on Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday. Piper Jaffray Companies began coverage on Enterprise Products Partners in a research note on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price objective on the stock. Finally, Johnson Rice initiated coverage on Enterprise Products Partners in a research note on Thursday, May 30th. They issued a “buy” rating and a $35.00 price objective on the stock. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Enterprise Products Partners currently has an average rating of “Buy” and an average price target of $33.57.

Shares of NYSE EPD traded down $0.11 during trading hours on Friday, reaching $29.78. 3,393,295 shares of the stock were exchanged, compared to its average volume of 3,774,098. The company has a market cap of $65.42 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 3.49 and a beta of 0.88. The company has a quick ratio of 0.58, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a 52 week low of $23.33 and a 52 week high of $30.86. The company’s fifty day simple moving average is $29.62.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. The company had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.57 billion. Enterprise Products Partners had a return on equity of 20.20% and a net margin of 14.26%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 earnings per share. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st will be paid a dividend of $0.44 per share. The ex-dividend date is Tuesday, July 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.91%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio (DPR) is 90.72%.

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

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