Arthur M. Cohen & Associates LLC Makes New Investment in Enterprise Products Partners L.P. (NYSE:EPD)
Arthur M. Cohen & Associates LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,000 shares of the oil and gas producer’s stock, valued at approximately $229,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mcmillion Capital Management Inc. purchased a new stake in Enterprise Products Partners during the second quarter worth $29,000. TCI Wealth Advisors Inc. boosted its position in Enterprise Products Partners by 400.0% during the third quarter. TCI Wealth Advisors Inc. now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 800 shares in the last quarter. D Orazio & Associates Inc. purchased a new stake in Enterprise Products Partners during the third quarter worth $30,000. Centersquare Investment Management LLC purchased a new stake in Enterprise Products Partners during the second quarter worth $34,000. Finally, TRUE Private Wealth Advisors purchased a new stake in Enterprise Products Partners during the second quarter worth $41,000. Institutional investors own 36.77% of the company’s stock.
A number of analysts have commented on the company. Stifel Nicolaus boosted their target price on Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Scotia Howard Weill initiated coverage on Enterprise Products Partners in a report on Wednesday, September 4th. They issued an “outperform” rating for the company. Zacks Investment Research cut Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Monday, August 26th. ValuEngine cut Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Finally, Piper Jaffray Companies initiated coverage on Enterprise Products Partners in a report on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the stock. Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $33.50.
Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, October 28th. The oil and gas producer reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.05). The company had revenue of $7.96 billion during the quarter, compared to analyst estimates of $8.97 billion. Enterprise Products Partners had a return on equity of 19.78% and a net margin of 14.07%. The business’s revenue was down 16.9% compared to the same quarter last year. During the same period last year, the firm earned $0.60 earnings per share. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be paid a $0.4425 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.77 annualized dividend and a yield of 6.72%. The ex-dividend date is Wednesday, October 30th. Enterprise Products Partners’s dividend payout ratio is presently 91.24%.
Enterprise Products Partners 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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