62,640 Shares in Enterprise Products Partners L.P. $EPD Purchased by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC has acquired 62,640 shares of Enterprise Products Partners L.P., valued at approximately $2.14 million during the 1st quarter.
• Enterprise Products Partners recently increased its quarterly dividend to $0.545 per share, resulting in an annual yield of 6.9%.
• The company reported a quarterly earnings per share of $0.66, slightly missing analysts' expectations, with revenue down 15.7% year-over-year.

SCS Capital Management LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 62,640 shares of the oil and gas producer's stock, valued at approximately $2,139,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Diversified Trust Co lifted 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 buying an additional 1,821 shares in the last quarter. Aurora Private Wealth Inc. lifted 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 buying an additional 194,336 shares in the last quarter. Cyndeo Wealth Partners LLC lifted 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 buying 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 about $290,000. Finally, Nuveen LLC acquired a new position in Enterprise Products Partners during the 1st quarter worth about $22,284,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Insider Buying and Selling

In other Enterprise Products Partners news, Director William C. Montgomery bought 16,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was 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 trade represents a 13.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Rutherford bought 15,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the purchase, the director owned 158,586 shares in the company, valued at $4,971,671.10. This represents a 10.45% 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 Performance

Shares of EPD stock opened at $31.55 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The stock has a market cap of $68.31 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 1.97 and a beta of 0.69. The stock has a 50-day moving average of $31.54 and a 200-day moving average of $31.69. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business's revenue was down 15.7% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. As a group, sell-side 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 firm also recently announced 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. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend was Thursday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio (DPR) is currently 81.04%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EPD. Citigroup dropped their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Morgan Stanley dropped their price objective on 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. Scotiabank boosted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Thursday, June 5th. TD Cowen began coverage on Enterprise Products Partners in a report on Monday, July 7th. They set a "hold" rating and a $33.00 price objective for the company. Finally, Stifel Nicolaus dropped their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $35.83.

About Enterprise Products Partners

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.

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