Riggs Asset Managment Co. Inc. Sells 2,104 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Riggs Asset Managment Co. Inc. decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 172,547 shares of the oil and gas producer’s stock after selling 2,104 shares during the quarter. Enterprise Products Partners comprises approximately 2.8% of Riggs Asset Managment Co. Inc.’s investment portfolio, making the stock its 11th largest position. Riggs Asset Managment Co. Inc.’s holdings in Enterprise Products Partners were worth $4,981,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Covenant Asset Management LLC raised its holdings in Enterprise Products Partners by 0.5% during the 1st quarter. Covenant Asset Management LLC now owns 70,064 shares of the oil and gas producer’s stock worth $2,039,000 after purchasing an additional 345 shares during the last quarter. Campbell Capital Management Inc. grew its position in shares of Enterprise Products Partners by 1.4% during the 1st quarter. Campbell Capital Management Inc. now owns 25,500 shares of the oil and gas producer’s stock worth $742,000 after buying an additional 350 shares during the period. Allred Capital Management LLC grew its position in shares of Enterprise Products Partners by 1.1% during the 2nd quarter. Allred Capital Management LLC now owns 35,005 shares of the oil and gas producer’s stock worth $1,015,000 after buying an additional 371 shares during the period. Riverstone Advisors LLC grew its position in shares of Enterprise Products Partners by 4.2% during the 1st quarter. Riverstone Advisors LLC now owns 10,008 shares of the oil and gas producer’s stock worth $291,000 after buying an additional 400 shares during the period. Finally, Stokes Capital Advisors LLC grew its position in shares of Enterprise Products Partners by 1.1% during the 2nd quarter. Stokes Capital Advisors LLC now owns 37,429 shares of the oil and gas producer’s stock worth $1,081,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 36.61% of the company’s stock.

In other Enterprise Products Partners news, Director Murray E. Brasseux purchased 5,000 shares of Enterprise Products Partners stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $30.00 per share, with a total value of $150,000.00. Following the transaction, the director now owns 17,885 shares in the company, valued at approximately $536,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 37.50% of the company’s stock.

NYSE EPD traded down $0.07 during mid-day trading on Tuesday, hitting $28.94. The company’s stock had a trading volume of 1,931,250 shares, compared to its average volume of 3,876,613. The firm’s 50 day moving average price is $29.65. Enterprise Products Partners L.P. has a twelve month low of $23.33 and a twelve month high of $30.86. The company has a quick ratio of 0.58, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $63.41 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 3.44 and a beta of 0.88.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st will be given a $0.44 dividend. The ex-dividend date is Tuesday, July 30th. This represents a $1.76 annualized dividend and a yield of 6.08%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 90.72%.

Several analysts have recently commented on EPD shares. Piper Jaffray Companies started coverage on shares of Enterprise Products Partners in a research report on Wednesday, July 17th. They set an “overweight” rating and a $37.00 price objective for the company. Zacks Investment Research raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Thursday, April 11th. Stifel Nicolaus raised 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, Johnson Rice started coverage on shares of Enterprise Products Partners in a research report on Thursday, May 30th. They set a “buy” rating and a $35.00 price objective for the company. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average 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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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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