Tyche Wealth Partners LLC Buys 7,871 Shares of Enterprise Products Partners L.P. $EPD

Tyche Wealth Partners LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 23.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,103 shares of the oil and gas producer’s stock after buying an additional 7,871 shares during the period. Tyche Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $1,275,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Strategic Advisors LLC increased its holdings in shares of Enterprise Products Partners by 3.5% in the first quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer’s stock valued at $341,000 after purchasing an additional 337 shares in the last quarter. Per Stirling Capital Management LLC. increased its holdings in shares of Enterprise Products Partners by 1.5% in the first quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer’s stock valued at $804,000 after purchasing an additional 339 shares in the last quarter. Sound Income Strategies LLC boosted its stake in Enterprise Products Partners by 2.1% in the second quarter. Sound Income Strategies LLC now owns 16,796 shares of the oil and gas producer’s stock valued at $521,000 after acquiring an additional 340 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Enterprise Products Partners by 1.8% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,353 shares of the oil and gas producer’s stock valued at $600,000 after acquiring an additional 347 shares during the last quarter. Finally, Keystone Wealth Services LLC boosted its stake in Enterprise Products Partners by 2.6% in the first quarter. Keystone Wealth Services LLC now owns 13,937 shares of the oil and gas producer’s stock valued at $476,000 after acquiring an additional 349 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Saturday, September 27th. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research note on Friday, July 11th. Morgan Stanley reduced their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Stifel Nicolaus reduced their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Finally, 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 note on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Insiders Place Their Bets

In related news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average cost of $31.35 per share, with a total value of $470,250.00. Following the transaction, the director owned 158,586 shares of the company’s stock, valued at $4,971,671.10. The trade was a 10.45% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William C. Montgomery acquired 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the transaction, the director directly owned 136,920 shares in the company, valued at $4,319,826. This represents a 13.23% 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 Trading Down 0.4%

Shares of NYSE EPD opened at $31.52 on Tuesday. The company’s fifty day moving average is $31.57 and its 200-day moving average is $31.43. The stock has a market cap of $68.25 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 2.25 and a beta of 0.64. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month 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.

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

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.