Proffitt & Goodson Inc. Acquires 1,500 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Proffitt & Goodson Inc. raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 33.7% in the third quarter, HoldingsChannel.com reports. The firm owned 5,950 shares of the oil and gas producer’s stock after purchasing an additional 1,500 shares during the quarter. Proffitt & Goodson Inc.’s holdings in Enterprise Products Partners were worth $170,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mcmillion Capital Management Inc. bought a new stake in Enterprise Products Partners in the 2nd quarter valued at about $29,000. TCI Wealth Advisors Inc. raised its position in shares of Enterprise Products Partners by 400.0% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 1,000 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 800 shares in the last quarter. Centersquare Investment Management LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at approximately $34,000. TRUE Private Wealth Advisors acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at approximately $41,000. Finally, Massey Quick Simon & CO. LLC raised its position in shares of Enterprise Products Partners by 1,242.6% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 1,450 shares of the oil and gas producer’s stock valued at $41,000 after buying an additional 1,342 shares in the last quarter. 36.67% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Jaffray Companies assumed coverage on shares of Enterprise Products Partners in a research report on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 target price for the company. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 target price for the company. Royal Bank of Canada assumed coverage on shares of Enterprise Products Partners in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Zacks Investment Research cut shares of Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $33.45.

In related news, Director Murray E. Brasseux acquired 5,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $30.00 per share, for a total transaction of $150,000.00. Following the transaction, the director now directly owns 17,885 shares in the company, valued at $536,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 37.50% of the stock is owned by corporate insiders.

EPD stock traded down $0.12 during trading on Monday, reaching $27.49. 1,656,553 shares of the company were exchanged, compared to its average volume of 4,368,743. The company has a 50-day moving average of $28.34 and a two-hundred day moving average of $28.87. The company has a market capitalization of $60.42 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 3.11 and a beta of 0.87. 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 debt-to-equity ratio of 1.06, a current ratio of 1.00 and a quick ratio of 0.75.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. The business had revenue of $8.28 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Enterprise Products Partners had a net margin of 14.26% and a return on equity of 20.02%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.2 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be given a dividend of $0.4425 per share. This represents a $1.77 dividend on an annualized basis and a yield of 6.44%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, October 30th. Enterprise Products Partners’s dividend payout ratio is currently 90.72%.

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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Want to see what other hedge funds are holding EPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enterprise Products Partners L.P. (NYSE:EPD).

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

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