MADDEN SECURITIES Corp Acquires Shares of 31,940 Enterprise Products Partners L.P. (NYSE:EPD)

Share on StockTwits

MADDEN SECURITIES Corp acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 31,940 shares of the oil and gas producer’s stock, valued at approximately $580,000.

A number of other hedge funds have also added to or reduced their stakes in EPD. Orser Capital Management LLC raised its holdings in Enterprise Products Partners by 15.0% in the 4th quarter. Orser Capital Management LLC now owns 42,355 shares of the oil and gas producer’s stock valued at $1,181,000 after acquiring an additional 5,514 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Enterprise Products Partners by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 347,433 shares of the oil and gas producer’s stock valued at $9,784,000 after acquiring an additional 34,242 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Enterprise Products Partners by 5.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 14,831,485 shares of the oil and gas producer’s stock valued at $417,655,000 after acquiring an additional 765,669 shares during the last quarter. Van ECK Associates Corp raised its holdings in Enterprise Products Partners by 161.9% in the 4th quarter. Van ECK Associates Corp now owns 54,689 shares of the oil and gas producer’s stock valued at $1,540,000 after acquiring an additional 33,810 shares during the last quarter. Finally, EJF Capital LLC acquired a new stake in Enterprise Products Partners in the 4th quarter valued at about $282,000. Institutional investors own 34.78% of the company’s stock.

In other news, COO Graham W. Bacon acquired 10,000 shares of Enterprise Products Partners stock in a transaction dated Wednesday, June 17th. The shares were acquired at an average cost of $19.70 per share, for a total transaction of $197,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 37.50% of the company’s stock.

EPD has been the subject of a number of recent analyst reports. Citigroup cut their price target on shares of Enterprise Products Partners from $31.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. Mizuho restated a “buy” rating and set a $24.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 30th. Stifel Nicolaus cut their price target on shares of Enterprise Products Partners from $35.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, March 17th. Piper Sandler upgraded shares of Enterprise Products Partners from a “neutral” rating to an “overweight” rating and set a $22.00 price target for the company in a report on Wednesday, July 8th. Finally, ValuEngine downgraded shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Enterprise Products Partners presently has a consensus rating of “Buy” and an average target price of $27.00.

EPD stock traded down $0.04 during midday trading on Tuesday, hitting $17.09. The company’s stock had a trading volume of 11,587,273 shares, compared to its average volume of 10,020,263. The company has a quick ratio of 0.89, a current ratio of 1.12 and a debt-to-equity ratio of 1.07. Enterprise Products Partners L.P. has a 52-week low of $10.27 and a 52-week high of $30.86. The firm has a market capitalization of $37.36 billion, a P/E ratio of 8.06 and a beta of 1.44. The firm has a 50-day simple moving average of $18.93 and a 200-day simple moving average of $20.82.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas producer reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.09. Enterprise Products Partners had a net margin of 14.75% and a return on equity of 18.93%. The company had revenue of $7.48 billion during the quarter, compared to analysts’ expectations of $8.28 billion. During the same quarter last year, the company posted $0.57 EPS. The firm’s revenue was down 12.4% compared to the same quarter last year. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.01 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Friday, July 31st will be given a $0.445 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $1.78 annualized dividend and a yield of 10.42%. Enterprise Products Partners’s dividend payout ratio is presently 82.79%.

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.

Featured Story: What is the Difference Between Common Shares and Convertible Shares?

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

Receive News & Ratings for Enterprise Products Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enterprise Products Partners and related companies with MarketBeat.com's FREE daily email newsletter.