Chemistry Wealth Management LLC Purchases 963 Shares of Enterprise Products Partners L.P. $EPD

Chemistry Wealth Management LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 9.5% during the second quarter, Holdings Channel.com reports. The fund owned 11,149 shares of the oil and gas producer’s stock after acquiring an additional 963 shares during the quarter. Chemistry Wealth Management LLC’s holdings in Enterprise Products Partners were worth $346,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. raised its stake in Enterprise Products Partners by 33.3% during the 2nd quarter. Atwood & Palmer Inc. now owns 8,931 shares of the oil and gas producer’s stock worth $277,000 after acquiring an additional 2,231 shares during the period. Atlas Brown Inc. raised its stake in Enterprise Products Partners by 6.5% during the 2nd quarter. Atlas Brown Inc. now owns 11,703 shares of the oil and gas producer’s stock worth $363,000 after acquiring an additional 716 shares during the period. Webster Bank N. A. grew its holdings in Enterprise Products Partners by 44.4% during the 2nd quarter. Webster Bank N. A. now owns 2,166 shares of the oil and gas producer’s stock valued at $67,000 after buying an additional 666 shares in the last quarter. Adams Asset Advisors LLC raised its position in shares of Enterprise Products Partners by 1.6% during the second quarter. Adams Asset Advisors LLC now owns 248,234 shares of the oil and gas producer’s stock valued at $7,698,000 after buying an additional 4,006 shares during the last quarter. Finally, Wealth Alliance Advisory Group LLC raised its position in shares of Enterprise Products Partners by 7.7% during the second quarter. Wealth Alliance Advisory Group LLC now owns 17,883 shares of the oil and gas producer’s stock valued at $555,000 after buying an additional 1,280 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

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 acquired at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the transaction, the director owned 158,586 shares in the company, valued at $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 price 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 of the company’s stock, valued at approximately $4,319,826. The trade was a 13.23% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

EPD has been the topic of several recent analyst reports. TD Cowen initiated coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They set a “hold” rating and a $33.00 price objective on the stock. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Barclays reduced their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 2nd. Morgan Stanley cut their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. Finally, Scotiabank raised 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. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.83.

Enterprise Products Partners Stock Down 0.6%

NYSE EPD opened at $31.75 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The company has a fifty day moving average of $31.56 and a two-hundred day moving average of $31.65. The firm has a market capitalization of $68.75 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.99 and a beta of 0.69. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 earnings per share. On average, analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current 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. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, July 31st. Enterprise Products Partners’s dividend 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.