Reynders McVeigh Capital Management LLC Acquires 400 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Reynders McVeigh Capital Management LLC increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,063 shares of the oil and gas producer’s stock after buying an additional 400 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Enterprise Products Partners were worth $493,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Neuberger Berman Group LLC boosted its holdings in Enterprise Products Partners by 4.6% in the 1st quarter. Neuberger Berman Group LLC now owns 19,942,261 shares of the oil and gas producer’s stock worth $580,320,000 after buying an additional 884,418 shares during the period. BlackRock Inc. boosted its holdings in Enterprise Products Partners by 10.9% in the 1st quarter. BlackRock Inc. now owns 16,970,293 shares of the oil and gas producer’s stock worth $493,835,000 after buying an additional 1,665,379 shares during the period. Bank of Montreal Can boosted its holdings in Enterprise Products Partners by 86.9% in the 1st quarter. Bank of Montreal Can now owns 8,937,630 shares of the oil and gas producer’s stock worth $260,084,000 after buying an additional 4,156,710 shares during the period. Wells Fargo & Company MN boosted its holdings in Enterprise Products Partners by 27.6% in the 1st quarter. Wells Fargo & Company MN now owns 6,200,604 shares of the oil and gas producer’s stock valued at $180,437,000 after purchasing an additional 1,341,023 shares during the period. Finally, Raymond James & Associates boosted its holdings in Enterprise Products Partners by 2.0% in the 1st quarter. Raymond James & Associates now owns 4,163,211 shares of the oil and gas producer’s stock valued at $121,149,000 after purchasing an additional 81,504 shares during the period. 36.52% of the stock is owned by institutional investors.

EPD has been the subject of several analyst reports. Stifel Nicolaus raised their price target on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Johnson Rice initiated coverage on shares of Enterprise Products Partners in a report on Thursday, May 30th. They issued a “buy” rating and a $35.00 price target for the company. Piper Jaffray Companies initiated coverage on shares of Enterprise Products Partners in a report on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price target for the company. Finally, ValuEngine downgraded shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One 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 company. The stock currently has a consensus rating of “Buy” and an average target price of $33.75.

In related news, Director Murray E. Brasseux acquired 5,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $30.00 per share, for a total transaction of $150,000.00. Following the transaction, the director now owns 17,885 shares in the company, valued at approximately $536,550. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 37.50% of the company’s stock.

NYSE:EPD traded down $0.80 during trading hours on Friday, hitting $28.16. The stock had a trading volume of 3,978,535 shares, compared to its average volume of 4,166,508. The company has a 50 day simple moving average of $29.49 and a two-hundred day simple moving average of $28.86. 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 L.P. has a one year low of $23.33 and a one year high of $30.86. The firm has a market capitalization of $63.39 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 3.35 and a beta of 0.88.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The firm had revenue of $8.28 billion for 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 business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company posted $0.31 EPS. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.17 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.44 per share. The ex-dividend date was Tuesday, July 30th. This represents a $1.76 annualized dividend and a dividend yield of 6.25%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio (DPR) is 90.72%.

Enterprise Products Partners Company 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.

See Also: Holder of Record

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

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