EP Wealth Advisors LLC Acquires 766 Shares of Enterprise Products Partners L.P. $EPD

EP Wealth Advisors LLC grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 183,410 shares of the oil and gas producer’s stock after buying an additional 766 shares during the period. EP Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $6,262,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Diversified Trust Co boosted its holdings in shares of Enterprise Products Partners by 13.7% during the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock worth $516,000 after buying an additional 1,821 shares in the last quarter. Aurora Private Wealth Inc. raised its position in shares of Enterprise Products Partners by 3,044.1% during the first quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer’s stock worth $6,853,000 after purchasing an additional 194,336 shares during the period. Cyndeo Wealth Partners LLC raised its position in shares of Enterprise Products Partners by 20.0% during the first quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer’s stock worth $4,553,000 after purchasing an additional 22,202 shares during the period. Forbes J M & Co. LLP acquired a new position in shares of Enterprise Products Partners during the first quarter worth approximately $290,000. Finally, Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth approximately $1,146,000. 26.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Enterprise Products Partners

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

Analyst Upgrades and Downgrades

EPD has been the topic of a number of research reports. Stifel Nicolaus lowered their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, July 29th. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Morgan Stanley lowered their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. Finally, Citigroup lowered their target price on 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. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $35.83.

Enterprise Products Partners Trading Down 0.4%

NYSE EPD opened at $32.00 on Wednesday. The firm has a market capitalization of $69.29 billion, a P/E ratio of 11.90, a PEG ratio of 1.87 and a beta of 0.69. The business has a fifty day simple moving average of $31.47 and a 200 day simple moving average of $31.75. 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 current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The company had revenue of $11.36 billion during the quarter, compared to analysts’ expectations of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. On average, analysts predict 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 announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a dividend of $0.545 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.18 annualized dividend and a dividend yield of 6.8%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s payout ratio is 81.04%.

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.