Soltis Investment Advisors LLC Purchases New Position in Enterprise Products Partners L.P. $EPD

Soltis Investment Advisors LLC purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, HoldingsChannel reports. The firm purchased 13,967 shares of the oil and gas producer’s stock, valued at approximately $448,000.

Several other large investors have also made changes to their positions in EPD. CIBC Bancorp USA Inc. bought a new stake in Enterprise Products Partners during the third quarter worth approximately $292,194,000. Corient Private Wealth LLC boosted its position in Enterprise Products Partners by 119.4% during the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock worth $74,859,000 after purchasing an additional 1,313,976 shares during the period. Berkley W R Corp boosted its position in Enterprise Products Partners by 17.9% during the third quarter. Berkley W R Corp now owns 6,000,000 shares of the oil and gas producer’s stock worth $187,620,000 after purchasing an additional 910,206 shares during the period. Victory Capital Management Inc. boosted its position in Enterprise Products Partners by 70.6% during the third quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer’s stock worth $46,765,000 after purchasing an additional 619,014 shares during the period. Finally, Duff & Phelps Investment Management Co. boosted its position in Enterprise Products Partners by 35.7% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,750,560 shares of the oil and gas producer’s stock worth $54,740,000 after purchasing an additional 460,071 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the subject of a number of recent analyst reports. TD Cowen reaffirmed a “hold” rating and set a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Wall Street Zen cut Enterprise Products Partners from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup reiterated a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Finally, Barclays upped their price target on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.60.

Insiders Place Their Bets

In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the purchase, the chief executive officer directly owned 77,576 shares in the company, valued at $2,912,978.80. The trade was a 3.56% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 32.60% of the stock is currently owned by insiders.

Enterprise Products Partners Stock Up 0.4%

Shares of EPD stock opened at $39.38 on Tuesday. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $39.93. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The stock has a fifty day moving average price of $37.86 and a 200 day moving average price of $34.80. The stock has a market cap of $85.14 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. During the same period last year, the firm earned $0.64 EPS. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. Analysts predict that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a yield of 5.6%. Enterprise Products Partners’s payout ratio is presently 81.48%.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.