Enterprise Products Partners L. (NYSE:EPD).
Clinton Group Inc reports that it increased its position in Enterprise Products Partners L. by 225,050 shares in the last quarter. Its investment was valued at $11,560,000 an increase of 142.4% as of the end of the quarter.
Clinton Group Inc isn’t the only one who has changed their investment in EPD. Virtu Financial LLC expanded its ownership by buying 126,238 shares an increase of 77.7% in the quarter. Virtu Financial LLC currently owns 288,661 shares worth $7,817,000. The total value of its holdings increased 74.3%. Private Capital Advisors, Inc. grew its holdings by buying 2,184 shares an increase of 0.8% as of 06/30/2017. Private Capital Advisors, Inc. owns 282,682 shares valued at $7,655,000. The value of the position overall is down by 1.2%.
As of the end of the quarter Cullinan Associates Inc had sold a total of 7,300 shares trimming its stake by 6.5%. The value of the company’s investment in Enterprise Products Partners L. decreased from $3,048,000 to $2,855,000 decreasing 6.3% quarter over quarter.
On June 15 the company was rated “Overweight” according to a Morgan Stanley report a boost from the previous “Equal-weight” rating. On November 16, 2016 Ladenburg Thalmann began coverage of EPD with a rating of “Buy”.
October 10 investment analysts at Deutsche Bank left the company rating at “Buy” but raised the price target to $32.00 from $30.00. On September 30 analysts at Mizuho Securities starting coverage on EPD with an initial rating of “Buy”.
Equity analyst Credit Suisse both upgraded the stock and raised the price target on September 19 changing the price objective from $30.00 to $34.00 and moving the rating from “Neutral” to “Outperform”. On September 19 the stock rating was upgraded from “Neutral” to “Outperform” with a current price target of $34.00 in a statement from Credit Suisse.
The company is now up since yesterday’s close of $27.05. Additionally the company announced a dividend for shareholders to be paid on Monday the 7th of August 2017. The dividend will be $0.420 per share for the quarter which comes to $1.68 on an annualized basis. The dividend yield will be $6.17. The ex-dividend date will be Wednesday the 26th of April 2017.
Company shares last traded at $27.31 just a bit higher than $26.79, the 50 day moving average and which is just under the 200 day moving average of $27.40. The 50 day moving average moved up $0.52 whereas the 200 day moving average was down $-0.09 or -0.34%.
The company currently has a P/E ratio of 22.11 and the market value is 58.34B. As of the last earnings report the EPS was $1.24 and is projected to be $1.42 for the current year with 2,136,356,000 shares now outstanding. Next quarter’s EPS is forecasted at $0.35 with next year’s EPS projected to be $1.58.