Tradition Wealth Management LLC Lowers Stake in Enterprise Products Partners L.P. $EPD

Tradition Wealth Management LLC reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 20,656 shares of the oil and gas producer’s stock after selling 382 shares during the period. Tradition Wealth Management LLC’s holdings in Enterprise Products Partners were worth $705,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC boosted its holdings in shares of Enterprise Products Partners by 0.4% in the first quarter. Hsbc Holdings PLC now owns 571,688 shares of the oil and gas producer’s stock valued at $19,517,000 after acquiring an additional 2,324 shares in the last quarter. CWS Financial Advisors LLC purchased a new stake in shares of Enterprise Products Partners in the first quarter valued at about $292,000. RWA Wealth Partners LLC boosted its holdings in shares of Enterprise Products Partners by 133.0% in the first quarter. RWA Wealth Partners LLC now owns 78,279 shares of the oil and gas producer’s stock valued at $2,672,000 after acquiring an additional 44,685 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Enterprise Products Partners in the first quarter valued at about $16,968,000. Finally, Cornerstone Select Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 13.6% in the first quarter. Cornerstone Select Advisors LLC now owns 61,081 shares of the oil and gas producer’s stock valued at $2,085,000 after acquiring an additional 7,297 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.3%

Shares of NYSE EPD opened at $31.5050 on Thursday. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $34.63. The company has a market capitalization of $68.22 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.81 and a beta of 0.66. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The firm’s 50-day moving average is $31.38 and its two-hundred day moving average is $31.84.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business had revenue of $11.36 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same period last year, the company earned $0.64 EPS. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were issued a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, July 31st. Enterprise Products Partners’s payout ratio is currently 81.04%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Argus raised shares of Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Scotiabank lifted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Thursday, June 5th. Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Citigroup lowered their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Finally, Barclays reduced their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $36.25.

Insider Activity

In other news, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were bought at an average cost of $31.35 per share, with a total value of $470,250.00. Following the purchase, the director directly owned 158,586 shares of the company’s stock, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William C. Montgomery purchased 16,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average price of $31.55 per share, with a total value of $504,800.00. Following the completion of the acquisition, the director owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. This represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is owned by corporate insiders.

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.