Kiley Juergens Wealth Management LLC Buys New Shares in Enterprise Products Partners L.P. $EPD

Kiley Juergens Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 13,539 shares of the oil and gas producer’s stock, valued at approximately $420,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Alps Advisors Inc. lifted its holdings in Enterprise Products Partners by 5.0% in the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock worth $1,410,891,000 after buying an additional 1,967,188 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Enterprise Products Partners by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock worth $375,662,000 after buying an additional 457,045 shares during the period. Chickasaw Capital Management LLC lifted its position in Enterprise Products Partners by 1.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock valued at $171,022,000 after acquiring an additional 81,135 shares during the period. BROOKFIELD Corp ON lifted its position in Enterprise Products Partners by 2.8% during the 1st quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock valued at $160,416,000 after acquiring an additional 128,545 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Enterprise Products Partners by 65.3% during the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock valued at $148,415,000 after acquiring an additional 1,717,768 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on EPD shares. 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 report on Tuesday, July 29th. Barclays decreased their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. TD Cowen assumed coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They issued a “hold” rating and a $33.00 price target for the company. Finally, 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 research report on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.75.

Enterprise Products Partners Stock Up 0.3%

EPD stock opened at $31.63 on Friday. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. 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 stock has a market capitalization of $68.49 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 2.24 and a beta of 0.69. The firm has a 50 day moving average of $31.57 and a 200 day moving average of $31.55.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share 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 firm had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period last year, the firm earned $0.64 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 15.7% compared to the same quarter last year. Sell-side analysts forecast 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 announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a dividend of $0.545 per share. 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 payout ratio is currently 81.04%.

Insider Buying and Selling

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

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.