Paragon Capital Management LLC lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 12.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,043 shares of the oil and gas producer’s stock after purchasing an additional 676 shares during the quarter. Paragon Capital Management LLC’s holdings in Enterprise Products Partners were worth $174,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Mcmillion Capital Management Inc. purchased a new position in Enterprise Products Partners in the 2nd quarter worth about $29,000. TRUE Private Wealth Advisors acquired a new position in Enterprise Products Partners in the second quarter valued at about $41,000. Knuff & Co LLC acquired a new position in Enterprise Products Partners in the first quarter valued at about $42,000. Tompkins Financial Corp lifted its position in Enterprise Products Partners by 163.8% in the first quarter. Tompkins Financial Corp now owns 1,530 shares of the oil and gas producer’s stock valued at $44,000 after buying an additional 950 shares during the last quarter. Finally, TCG Advisors LP acquired a new position in Enterprise Products Partners in the first quarter valued at about $44,000. Hedge funds and other institutional investors own 36.52% of the company’s stock.
EPD traded down $0.48 during midday trading on Friday, hitting $28.48. The company’s stock had a trading volume of 1,204,259 shares, compared to its average volume of 4,096,282. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 1.06. The firm has a market cap of $62.36 billion, a P/E ratio of 14.68, a PEG ratio of 3.37 and a beta of 0.88. The firm has a 50-day moving average price of $29.51 and a two-hundred day moving average price of $28.86. Enterprise Products Partners L.P. has a 52-week low of $23.33 and a 52-week high of $30.86.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Wednesday, July 31st were issued a $0.44 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date was Tuesday, July 30th. This represents a $1.76 annualized dividend and a yield of 6.18%. Enterprise Products Partners’s payout ratio is 90.72%.
A number of research firms have commented on EPD. ValuEngine cut shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Johnson Rice assumed 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 target on the stock. Stifel Nicolaus increased their price target 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, Piper Jaffray Companies began 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 target on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $33.75.
In other Enterprise Products Partners news, Director Murray E. Brasseux purchased 5,000 shares of the stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $30.00 per share, for a total transaction of $150,000.00. Following the acquisition, the director now directly owns 17,885 shares of the company’s stock, valued at $536,550. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 37.50% of the stock is owned by insiders.
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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