Apexium Financial LP Has $239,000 Position in Enterprise Products Partners L.P. $EPD

Apexium Financial LP cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 17.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,712 shares of the oil and gas producer’s stock after selling 1,674 shares during the quarter. Apexium Financial LP’s holdings in Enterprise Products Partners were worth $239,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in EPD. Diversified Trust Co increased its position in Enterprise Products Partners by 13.7% during the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock worth $516,000 after purchasing an additional 1,821 shares in the last quarter. Aurora Private Wealth Inc. increased its position in Enterprise Products Partners by 3,044.1% during the 1st quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer’s stock worth $6,853,000 after purchasing an additional 194,336 shares in the last quarter. Cyndeo Wealth Partners LLC increased its position in Enterprise Products Partners by 20.0% during the 1st quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer’s stock worth $4,553,000 after purchasing an additional 22,202 shares in the last quarter. Forbes J M & Co. LLP acquired a new position in Enterprise Products Partners during the 1st quarter worth approximately $290,000. Finally, Corigliano Investment Advisers LLC acquired a new position in Enterprise Products Partners during the 1st quarter worth approximately $4,384,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of research analyst reports. 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. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a report on Saturday, September 27th. TD Cowen initiated coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They set a “hold” rating and a $33.00 target price on the stock. Scotiabank reduced their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, September 19th. Finally, Morgan Stanley reduced their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. Two 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Insiders Place Their Bets

In related news, Director William C. Montgomery bought 16,000 shares of the business’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 completion of the purchase, the director directly owned 136,920 shares in the company, valued at $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John R. Rutherford bought 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average cost 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 $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. Corporate insiders own 32.60% of the company’s stock.

Enterprise Products Partners Trading Up 0.7%

NYSE:EPD opened at $31.65 on Friday. The firm’s fifty day moving average is $31.56 and its 200-day moving average is $31.47. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. The firm has a market cap of $68.53 billion, a P/E ratio of 11.77, a P/E/G ratio of 2.25 and a beta of 0.64.

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). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. Equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

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