Childress Capital Advisors LLC Has $5.12 Million Stock Holdings in Enterprise Products Partners L.P. $EPD

Childress Capital Advisors LLC lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,965 shares of the oil and gas producer’s stock after selling 9,098 shares during the quarter. Enterprise Products Partners comprises about 1.3% of Childress Capital Advisors LLC’s investment portfolio, making the stock its 16th largest position. Childress Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $5,116,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in EPD. Brooklyn Investment Group acquired a new position in Enterprise Products Partners in the first quarter valued at about $27,000. Wealth Preservation Advisors LLC bought a new stake in shares of Enterprise Products Partners in the first quarter worth about $28,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners in the second quarter worth about $29,000. Security National Bank bought a new stake in shares of Enterprise Products Partners in the first quarter worth about $30,000. Finally, Alpine Bank Wealth Management bought a new stake in shares of Enterprise Products Partners in the first quarter worth about $31,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insider Buying and Selling

In other Enterprise Products Partners news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was bought at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the transaction, the director directly owned 158,586 shares in the company, valued at approximately $4,971,671.10. This represents a 10.45% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William C. Montgomery acquired 16,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was 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 of the company’s stock, 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. 32.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EPD. Stifel Nicolaus lowered their price target on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, July 29th. TD Cowen began coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 price target for the company. Barclays lowered their price target on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. Scotiabank decreased their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, September 19th. Finally, Morgan Stanley decreased their price objective on 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. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $35.75.

Enterprise Products Partners Stock Up 0.2%

EPD stock opened at $31.31 on Wednesday. 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 business has a 50 day moving average price of $31.57 and a two-hundred day moving average price of $31.52. The company has a market cap of $67.79 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 2.22 and a beta of 0.69. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results 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). The company had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. Analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a $0.545 dividend. 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 yield of 7.0%. The ex-dividend date was Thursday, July 31st. Enterprise Products Partners’s dividend payout ratio is 81.04%.

Enterprise Products Partners Company 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.