Olistico Wealth LLC Grows Stock Position in Enterprise Products Partners L.P. $EPD

Olistico Wealth LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 16.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,634 shares of the oil and gas producer’s stock after buying an additional 4,842 shares during the quarter. Olistico Wealth LLC’s holdings in Enterprise Products Partners were worth $1,043,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of EPD. Brooklyn Investment Group purchased a new position in Enterprise Products Partners during the first quarter worth approximately $27,000. Wealth Preservation Advisors LLC purchased a new position in shares of Enterprise Products Partners in the 1st quarter worth $28,000. Crowley Wealth Management Inc. purchased a new position in shares of Enterprise Products Partners in the 2nd quarter worth $29,000. Security National Bank purchased a new position in shares of Enterprise Products Partners in the 1st quarter worth $30,000. Finally, Alpine Bank Wealth Management purchased a new position in shares of Enterprise Products Partners in the 1st quarter worth $31,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on EPD. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Saturday, September 27th. Scotiabank cut their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, September 19th. Stifel Nicolaus cut 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. Morgan Stanley cut 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, Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.75.

Insider Buying and Selling

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

Enterprise Products Partners Stock Up 0.7%

Shares of NYSE EPD opened at $31.65 on Friday. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The firm has a market cap of $68.53 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.25 and a beta of 0.64. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The stock’s 50-day simple moving average is $31.56 and its 200-day simple moving average is $31.47.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) 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 business had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue was down 15.7% compared to the same quarter last year. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were issued a dividend of $0.545 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s dividend payout ratio (DPR) 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.