Moloney Securities Asset Management LLC Sells 2,350 Shares of Enterprise Products Partners L.P. $EPD

Moloney Securities Asset Management LLC lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 31,845 shares of the oil and gas producer’s stock after selling 2,350 shares during the period. Moloney Securities Asset Management LLC’s holdings in Enterprise Products Partners were worth $988,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EPD. Brighton Jones LLC raised its stake in shares of Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after acquiring an additional 5,425 shares during the last quarter. Spire Wealth Management increased its position in shares of Enterprise Products Partners by 92.1% during the first quarter. Spire Wealth Management now owns 55,274 shares of the oil and gas producer’s stock worth $1,887,000 after buying an additional 26,498 shares during the period. Golden State Wealth Management LLC increased its position in shares of Enterprise Products Partners by 113.6% during the first quarter. Golden State Wealth Management LLC now owns 8,102 shares of the oil and gas producer’s stock worth $277,000 after buying an additional 4,309 shares during the period. Alpine Bank Wealth Management acquired a new stake in shares of Enterprise Products Partners during the first quarter worth $31,000. Finally, Perigon Wealth Management LLC increased its position in shares of Enterprise Products Partners by 1.9% during the first quarter. Perigon Wealth Management LLC now owns 98,842 shares of the oil and gas producer’s stock worth $3,374,000 after buying an additional 1,887 shares during the period. Institutional investors own 26.07% of the company’s stock.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the stock in a transaction dated 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 completion of the transaction, the director directly owned 158,586 shares in the company, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William C. Montgomery purchased 16,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the transaction, 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 disclosure for this purchase can be found here. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Up 0.2%

EPD opened at $31.00 on Friday. 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 company’s 50-day moving average is $31.45 and its 200 day moving average is $31.26. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63. The firm has a market capitalization of $67.13 billion, a P/E ratio of 11.53, a PEG ratio of 2.21 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last released 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 net margin of 10.71% and a return on equity of 19.81%. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 earnings per share. Research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a $0.545 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.18 annualized dividend and a dividend yield of 7.0%. Enterprise Products Partners’s payout ratio is 81.04%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EPD. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Morgan Stanley decreased their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. Stifel Nicolaus decreased their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. Scotiabank reduced their price target on shares of 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, TD Cowen assumed coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.82.

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.