Perissos Private Wealth Management LLC Lowers Stake in Enterprise Products Partners L.P. $EPD

Perissos Private Wealth Management LLC reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 15.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,448 shares of the oil and gas producer’s stock after selling 5,513 shares during the quarter. Perissos Private Wealth Management LLC’s holdings in Enterprise Products Partners were worth $944,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Enterprise Products Partners in the 1st quarter valued at about $27,000. Wealth Preservation Advisors LLC acquired a new stake in Enterprise Products Partners in the 1st quarter valued at approximately $28,000. Crowley Wealth Management Inc. acquired a new position in shares of Enterprise Products Partners in the second quarter worth $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of Enterprise Products Partners in the first quarter worth $34,000. Finally, North Capital Inc. acquired a new position in shares of Enterprise Products Partners in the first quarter worth $38,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of EPD opened at $31.00 on Friday. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. The stock has a market cap of $67.13 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 2.21 and a beta of 0.64. 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 fifty day moving average price of $31.45 and a 200 day moving average price of $31.28.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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). The business 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%. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a $0.545 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a yield of 7.0%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.04%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Stifel Nicolaus dropped their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, July 29th. 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. TD Cowen began coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They set a “hold” rating and a $33.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Saturday. Finally, Barclays decreased 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. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.82.

Insider Activity 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 acquired 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 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 filing with the SEC, which is available through this hyperlink. Also, Director John R. Rutherford bought 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average price of $31.35 per share, for a total transaction 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 disclosure for this purchase can be found here. 32.60% of the stock is owned by corporate insiders.

Enterprise Products Partners Company 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.