Peapack Gladstone Financial Corp Has $3.95 Million Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Peapack Gladstone Financial Corp lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 61.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 135,836 shares of the oil and gas producer’s stock after buying an additional 51,809 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Enterprise Products Partners were worth $3,954,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in EPD. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners in the second quarter worth approximately $25,000. Mascoma Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at $29,000. DiNuzzo Private Wealth Inc. boosted its holdings in Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,000 shares in the last quarter. Assetmark Inc. increased its position in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new position in Enterprise Products Partners during the third quarter valued at about $36,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Bank of America began coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Trading Down 0.6 %

Shares of Enterprise Products Partners stock opened at $32.19 on Friday. The company has a market cap of $69.77 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.67 and a beta of 1.08. Enterprise Products Partners L.P. has a 1 year low of $26.02 and a 1 year high of $34.63. The company’s fifty day simple moving average is $30.79 and its 200-day simple moving average is $29.66. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.525 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.52%. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.