Advisors Asset Management Inc. Acquires 41,519 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• Advisors Asset Management Inc. increased its stake in Enterprise Products Partners L.P. by 33.7% during the 1st quarter, acquiring an additional 41,519 shares, bringing its total holdings to 164,588 shares valued at $5.6 million.
• Multiple investors have recently entered positions in Enterprise Products, with 26.07% of the stock owned by institutional investors, while insiders currently hold 32.60% of the stock.
• Enterprise Products Partners declared a quarterly dividend of $0.545, representing a yield of 6.9%, which is a slight increase from the prior dividend of $0.54.

Advisors Asset Management Inc. boosted its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 33.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 164,588 shares of the oil and gas producer's stock after purchasing an additional 41,519 shares during the quarter. Advisors Asset Management Inc.'s holdings in Enterprise Products Partners were worth $5,619,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in shares of Enterprise Products Partners during the first quarter worth approximately $27,000. Wealth Preservation Advisors LLC acquired a new position in Enterprise Products Partners during the first quarter worth $28,000. Security National Bank bought a new stake in Enterprise Products Partners during the first quarter worth about $30,000. Alpine Bank Wealth Management bought a new position in Enterprise Products Partners in the 1st quarter valued at approximately $31,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Enterprise Products Partners during the 1st quarter worth approximately $34,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Trading Down 0.6%

Shares of EPD stock traded down $0.20 during trading hours on Monday, hitting $31.48. 2,744,342 shares of the company's stock traded hands, compared to its average volume of 4,638,966. 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 quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The stock has a market cap of $68.15 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.98 and a beta of 0.69. The stock's 50 day simple moving average is $31.52 and its 200 day simple moving average is $31.70.

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 earnings per share 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 firm had revenue of $11.36 billion for the quarter, compared to analysts' expectations of $15.24 billion. During the same period in the previous year, the company earned $0.64 EPS. The company's quarterly revenue was down 15.7% on a year-over-year basis. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS 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. The ex-dividend date was Thursday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a yield of 6.9%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 81.04%.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of analyst reports. Scotiabank increased their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research note on Thursday, June 5th. TD Cowen began coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 price target for the company. Barclays reduced their target price on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday, July 2nd. Morgan Stanley decreased their price objective on 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. Finally, Stifel Nicolaus dropped their price target on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, July 29th. Two 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.com, Enterprise Products Partners has a consensus rating of "Moderate Buy" and a consensus target price of $35.83.

Insiders Place Their Bets

In other news, Director John R. Rutherford purchased 15,000 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was purchased at an average price of $31.35 per share, with a total value of $470,250.00. Following the acquisition, the director directly owned 158,586 shares in the company, valued at approximately $4,971,671.10. The trade was a 10.45% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William C. Montgomery purchased 16,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the acquisition, the director owned 136,920 shares of the company's stock, valued at approximately $4,319,826. This represents a 13.23% 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 Company 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.