Nicholas Hoffman & Company LLC. Buys Shares of 9,253 Enterprise Products Partners L.P. (NYSE:EPD)

Nicholas Hoffman & Company LLC. bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,253 shares of the oil and gas producer’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hutner Capital Management Inc. grew its position in Enterprise Products Partners by 0.5% during the 1st quarter. Hutner Capital Management Inc. now owns 95,704 shares of the oil and gas producer’s stock worth $2,107,000 after acquiring an additional 440 shares during the last quarter. Capital Investment Advisory Services LLC grew its position in Enterprise Products Partners by 2.6% during the 1st quarter. Capital Investment Advisory Services LLC now owns 18,440 shares of the oil and gas producer’s stock worth $406,000 after acquiring an additional 460 shares during the last quarter. Silver Lake Advisory LLC grew its position in Enterprise Products Partners by 1.2% during the 2nd quarter. Silver Lake Advisory LLC now owns 40,389 shares of the oil and gas producer’s stock worth $907,000 after acquiring an additional 460 shares during the last quarter. Johnson Midwest Financial LLC grew its position in Enterprise Products Partners by 21.2% during the 2nd quarter. Johnson Midwest Financial LLC now owns 2,672 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 467 shares during the last quarter. Finally, Intersect Capital LLC grew its position in Enterprise Products Partners by 1.2% during the 2nd quarter. Intersect Capital LLC now owns 40,119 shares of the oil and gas producer’s stock worth $968,000 after acquiring an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 28.80% of the company’s stock.

A number of research firms recently commented on EPD. Raymond James increased their price target on Enterprise Products Partners from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 21st. Morgan Stanley decreased their price objective 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. Finally, Wells Fargo & Company increased their price objective on Enterprise Products Partners from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, June 24th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $26.20.

NYSE:EPD opened at $22.24 on Wednesday. The firm has a market capitalization of $48.60 billion, a P/E ratio of 12.78 and a beta of 1.40. Enterprise Products Partners L.P. has a 12-month low of $14.90 and a 12-month 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 stock’s fifty day simple moving average is $22.83 and its 200-day simple moving average is $23.24.

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

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 12th. Investors of record on Friday, July 30th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 8.09%. The ex-dividend date of this dividend was Thursday, July 29th. Enterprise Products Partners’s payout ratio is presently 85.31%.

In other news, Director John R. Rutherford purchased 10,000 shares of the company’s stock in a transaction on Thursday, August 26th. The shares were purchased at an average price of $22.19 per share, with a total value of $221,900.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 37.50% of the company’s stock.

Enterprise Products Partners Company Profile

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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