Enterprise Products Partners L.P. $EPD Shares Sold by Balboa Wealth Partners

Balboa Wealth Partners lowered its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 21.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 7,043 shares of the oil and gas producer’s stock after selling 1,900 shares during the period. Balboa Wealth Partners’ holdings in Enterprise Products Partners were worth $218,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Brooklyn Investment Group bought a new stake in Enterprise Products Partners in the first quarter valued at about $27,000. Wealth Preservation Advisors LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter worth approximately $28,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at approximately $29,000. Security National Bank acquired a new stake in shares of Enterprise Products Partners during the 1st quarter valued at approximately $30,000. Finally, Alpine Bank Wealth Management bought a new position in Enterprise Products Partners during the first quarter worth $31,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on EPD shares. TD Cowen started coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They set a “hold” rating and a $33.00 target price for the company. Barclays lowered their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Stifel Nicolaus lowered their target price 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. Finally, Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.82.

Enterprise Products Partners Trading Up 0.4%

Enterprise Products Partners stock opened at $30.79 on Wednesday. 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 firm has a market capitalization of $66.67 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 2.18 and a beta of 0.64. The firm has a 50-day moving average price of $31.50 and a two-hundred day moving average price of $31.24.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. Enterprise Products Partners’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share 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. Investors of record on Friday, October 31st will be given a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 7.1%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.04%.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery purchased 16,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were 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 approximately $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 the SEC website. Also, 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 bought at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the purchase, the director owned 158,586 shares of the company’s stock, valued at approximately $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 owned by 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.