IFP Advisors Inc Reduces Position in Enterprise Products Partners L.P. $EPD

IFP Advisors Inc lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 62.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 36,058 shares of the oil and gas producer’s stock after selling 59,010 shares during the period. IFP Advisors Inc’s holdings in Enterprise Products Partners were worth $1,118,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Strategic Advisors LLC grew its stake in Enterprise Products Partners by 3.5% during the first quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer’s stock valued at $341,000 after acquiring an additional 337 shares in the last quarter. Per Stirling Capital Management LLC. boosted its holdings in shares of Enterprise Products Partners by 1.5% during the 1st 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 during the last quarter. Sound Income Strategies LLC grew its position in shares of Enterprise Products Partners by 2.1% during 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 purchasing an additional 340 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of 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 worth $600,000 after purchasing an additional 347 shares during the last quarter. Finally, Keystone Wealth Services LLC lifted its position in shares of 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 worth $476,000 after buying an additional 349 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on EPD shares. Barclays cut 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. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Stifel Nicolaus reduced their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, July 29th. Finally, TD Cowen started coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They set a “hold” rating and a $33.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.75.

Insiders Place Their Bets

In related news, Director William C. Montgomery purchased 16,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the acquisition, the director owned 136,920 shares in the company, valued at approximately $4,319,826. This trade represents a 13.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John R. Rutherford acquired 15,000 shares of the firm’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 acquisition, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. This represents 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 Stock Performance

Enterprise Products Partners stock opened at $30.81 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The firm has a market capitalization of $66.70 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 2.19 and a beta of 0.64. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. The company’s 50-day moving average is $31.58 and its 200 day moving average is $31.37.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the company posted $0.64 EPS. The company’s quarterly revenue was down 15.7% compared to the same quarter last year. Research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Friday, October 31st. 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.