Enterprise Products Partners L.P. $EPD Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,428 shares of the oil and gas producer’s stock after selling 462 shares during the period. AdvisorNet Financial Inc’s holdings in Enterprise Products Partners were worth $168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Diversified Trust Co lifted its position in Enterprise Products Partners by 13.7% during the first quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock valued at $516,000 after purchasing an additional 1,821 shares during the period. Aurora Private Wealth Inc. increased its holdings in Enterprise Products Partners by 3,044.1% in the first quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer’s stock valued at $6,853,000 after buying an additional 194,336 shares in the last quarter. Cyndeo Wealth Partners LLC increased its holdings in Enterprise Products Partners by 20.0% in the first quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer’s stock valued at $4,553,000 after buying an additional 22,202 shares in the last quarter. Forbes J M & Co. LLP purchased a new position in Enterprise Products Partners in the first quarter valued at $290,000. Finally, Corigliano Investment Advisers LLC purchased a new position in Enterprise Products Partners in the first quarter valued at $4,384,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Enterprise Products Partners news, Director John R. Rutherford acquired 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was bought at an average price of $31.35 per share, with a total value of $470,250.00. Following the purchase, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. The trade was a 10.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William C. Montgomery acquired 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average cost of $31.55 per share, with a total value of $504,800.00. Following the purchase, the director 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. 32.60% of the stock is currently owned by corporate insiders.

Enterprise Products Partners Stock Down 0.4%

Shares of NYSE EPD opened at $31.59 on Friday. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $34.63. The stock has a market cap of $68.39 billion, a PE ratio of 11.74, a P/E/G ratio of 2.25 and a beta of 0.69. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average of $31.56 and a 200 day moving average of $31.57.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $15.24 billion. During the same period in the prior year, the company posted $0.64 EPS. The firm’s revenue was down 15.7% on a year-over-year basis. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a dividend of $0.545 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.18 annualized dividend and a yield of 6.9%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s dividend payout ratio is currently 81.04%.

Analysts Set New Price Targets

EPD has been the subject of a number of recent analyst reports. Barclays cut 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 report on Wednesday, July 2nd. TD Cowen initiated coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 price objective for the company. Morgan Stanley cut 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 report on Tuesday, August 26th. Stifel Nicolaus cut their target price 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. Finally, Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. Two investment 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, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.75.

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.