Ballast Advisors LLC Increases Stake in Enterprise Products Partners L.P. $EPD

Ballast Advisors LLC increased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 3.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 310,856 shares of the oil and gas producer’s stock after acquiring an additional 10,935 shares during the quarter. Enterprise Products Partners comprises about 2.8% of Ballast Advisors LLC’s holdings, making the stock its 10th biggest holding. Ballast Advisors LLC’s holdings in Enterprise Products Partners were worth $9,640,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Whipplewood Advisors LLC boosted its holdings in Enterprise Products Partners by 77,355.7% in the 2nd quarter. Whipplewood Advisors LLC now owns 61,190 shares of the oil and gas producer’s stock valued at $1,898,000 after purchasing an additional 61,111 shares during the period. Brighton Jones LLC boosted its stake in Enterprise Products Partners by 12.9% during the second quarter. Brighton Jones LLC now owns 36,760 shares of the oil and gas producer’s stock valued at $1,140,000 after buying an additional 4,201 shares during the period. Kornitzer Capital Management Inc. KS grew its position in Enterprise Products Partners by 4.0% during the second quarter. Kornitzer Capital Management Inc. KS now owns 51,920 shares of the oil and gas producer’s stock worth $1,610,000 after buying an additional 2,000 shares in the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $1,539,000. Finally, Insight Wealth Partners LLC bought a new position in shares of Enterprise Products Partners in the second quarter worth approximately $204,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EPD has been the subject of several research reports. Morgan Stanley cut their target price 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Saturday. Scotiabank decreased their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, September 19th. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research note on Friday, July 11th. Finally, TD Cowen initiated coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They issued a “hold” rating and a $33.00 target price on the stock. Two equities research 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, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average target price of $35.82.

Insider Buying and Selling

In related news, Director William C. Montgomery bought 16,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average price of $31.55 per share, with a total value of $504,800.00. Following the purchase, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John R. Rutherford acquired 15,000 shares of the stock in a transaction 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 completion of the acquisition, the director directly owned 158,586 shares of the company’s stock, valued at $4,971,671.10. This trade 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 corporate insiders.

Enterprise Products Partners Stock Up 0.2%

Shares of NYSE EPD opened at $31.00 on Friday. The firm’s fifty day moving average is $31.45 and its 200 day moving average is $31.28. 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 company has a market cap of $67.13 billion, a price-to-earnings 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 data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The firm had revenue of $11.36 billion during the quarter, compared to analysts’ expectations 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 was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 EPS. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed 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. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) 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.