Mid Atlantic Financial Management Inc. ADV Increases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Mid Atlantic Financial Management Inc. ADV grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 72.0% in the second quarter, Holdings Channel reports. The firm owned 57,165 shares of the oil and gas producer’s stock after buying an additional 23,927 shares during the quarter. Mid Atlantic Financial Management Inc. ADV’s holdings in Enterprise Products Partners were worth $1,379,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Hutner Capital Management Inc. lifted its position in shares of Enterprise Products Partners by 0.5% in the first quarter. Hutner Capital Management Inc. now owns 95,704 shares of the oil and gas producer’s stock worth $2,107,000 after buying an additional 440 shares in the last quarter. Capital Investment Advisory Services LLC grew its stake in shares of Enterprise Products Partners by 2.6% during the first quarter. Capital Investment Advisory Services LLC now owns 18,440 shares of the oil and gas producer’s stock valued at $406,000 after buying an additional 460 shares during the last quarter. Silver Lake Advisory LLC grew its stake in shares of Enterprise Products Partners by 1.2% during the second quarter. Silver Lake Advisory LLC now owns 40,389 shares of the oil and gas producer’s stock valued at $907,000 after buying an additional 460 shares during the last quarter. Johnson Midwest Financial LLC grew its stake in Enterprise Products Partners by 21.2% in the second quarter. Johnson Midwest Financial LLC now owns 2,672 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 467 shares in the last quarter. Finally, Intersect Capital LLC grew its stake in Enterprise Products Partners by 1.2% in the second quarter. Intersect Capital LLC now owns 40,119 shares of the oil and gas producer’s stock worth $968,000 after purchasing an additional 488 shares in the last quarter. 28.80% of the stock is owned by institutional investors and hedge funds.

A number of analysts have weighed in on the company. Raymond James upped their target price on Enterprise Products Partners from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a report on Wednesday, July 21st. Wells Fargo & Company raised their target price on Enterprise Products Partners from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, June 24th. Finally, Morgan Stanley cut their price target on Enterprise Products Partners from $33.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, August 26th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $26.20.

NYSE:EPD opened at $22.24 on Wednesday. The firm’s 50 day moving average is $22.83 and its two-hundred day moving average is $23.24. Enterprise Products Partners L.P. has a fifty-two week low of $14.90 and a fifty-two week high of $25.69. The company has a quick ratio of 0.66, a current ratio of 0.98 and a debt-to-equity ratio of 1.05. The company has a market cap of $48.60 billion, a P/E ratio of 12.78 and a beta of 1.40.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, July 28th. The oil and gas producer reported $0.50 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Enterprise Products Partners had a net margin of 11.80% and a return on equity of 18.26%. The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $7.79 billion. During the same period last year, the business earned $0.47 EPS. Research analysts forecast that Enterprise Products Partners L.P. will post 2.21 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 12th. Shareholders of record on Friday, July 30th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, July 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.09%. Enterprise Products Partners’s dividend payout ratio (DPR) is 85.31%.

In related news, Director John R. Rutherford acquired 10,000 shares of the stock in a transaction that occurred on Thursday, August 26th. The shares were purchased at an average cost of $22.19 per share, with a total value of $221,900.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 37.50% of the company’s stock.

About Enterprise Products Partners

Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following 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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