Enterprise Products Partners L.P. $EPD Stock Position Lifted by Adams Asset Advisors LLC

Adams Asset Advisors LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 248,234 shares of the oil and gas producer’s stock after purchasing an additional 4,006 shares during the period. Enterprise Products Partners comprises approximately 1.1% of Adams Asset Advisors LLC’s holdings, making the stock its 29th largest position. Adams Asset Advisors LLC’s holdings in Enterprise Products Partners were worth $7,698,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in Enterprise Products Partners during the first quarter valued at approximately $27,000. Wealth Preservation Advisors LLC purchased a new position in Enterprise Products Partners during the first quarter valued at approximately $28,000. Security National Bank purchased a new position in Enterprise Products Partners during the first quarter valued at approximately $30,000. Alpine Bank Wealth Management purchased a new position in Enterprise Products Partners during the first quarter valued at approximately $31,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Enterprise Products Partners during the first quarter valued at approximately $34,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EPD has been the topic of a number of research analyst reports. Barclays lowered 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. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Scotiabank boosted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 5th. Morgan Stanley decreased 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 research report on Tuesday, August 26th. Finally, Stifel Nicolaus decreased their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus price target of $35.83.

Insiders Place Their Bets

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

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $31.75 on Monday. The firm has a fifty day simple moving average of $31.56 and a 200-day simple moving average of $31.65. 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 L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. The stock 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 (NYSE:EPD) last issued its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Enterprise Products Partners’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were paid a $0.545 dividend. The ex-dividend date was Thursday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. Enterprise Products Partners’s dividend payout ratio is presently 81.04%.

About Enterprise Products Partners

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.