Brookstone Capital Management Trims Holdings in Enterprise Products Partners L.P. $EPD

Brookstone Capital Management trimmed its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 36.8% during the second quarter, Holdings Channel.com reports. The fund owned 24,547 shares of the oil and gas producer’s stock after selling 14,310 shares during the period. Brookstone Capital Management’s holdings in Enterprise Products Partners were worth $761,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Enterprise Products Partners in the 1st quarter valued at approximately $27,000. Wealth Preservation Advisors LLC purchased a new stake in Enterprise Products Partners during the 1st quarter worth approximately $28,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $29,000. N.E.W. Advisory Services LLC purchased a new stake in Enterprise Products Partners during the 1st quarter worth approximately $34,000. Finally, North Capital Inc. purchased a new stake in Enterprise Products Partners during the 1st quarter worth approximately $38,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on EPD. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Saturday. Stifel Nicolaus cut their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Morgan Stanley cut 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 research note on Tuesday, August 26th. Scotiabank cut 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 research note on Friday, September 19th. Finally, Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus target price of $35.82.

Enterprise Products Partners Trading Up 0.2%

Shares of Enterprise Products Partners stock opened at $31.00 on Monday. The company has a fifty day simple moving average of $31.45 and a 200-day simple moving average of $31.29. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $34.63. 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 stock 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 issued its earnings results 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 company had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The company’s quarterly revenue was down 15.7% on a year-over-year basis. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

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

Insider Buying and Selling at Enterprise Products Partners

In related news, Director John R. Rutherford bought 15,000 shares of the stock in a transaction dated Tuesday, July 29th. The stock was acquired at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. This represents a 10.45% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William C. Montgomery bought 16,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was bought at an average price of $31.55 per share, with a total value of $504,800.00. Following the acquisition, the director owned 136,920 shares in the company, valued at approximately $4,319,826. This represents a 13.23% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company’s stock.

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.