Allen Mooney & Barnes Investment Advisors LLC Lowers Position in Enterprise Products Partners L.P. $EPD

Key Points

• Allen Mooney & Barnes Investment Advisors reduced its EPD stake by 8.9%, selling 44,858 shares and retaining 458,936 shares valued at approximately $16.9 million. Institutional investors collectively own 26.07% of Enterprise Products Partners.
• Analysts maintain a generally positive but cautious outlook, with a consensus rating of “Moderate Buy” and an average price target of $40.00.
• Enterprise Products Partners reported quarterly earnings of $0.84 per share, exceeding estimates, while revenue rose 60.8% year over year to $18.27 billion. The company also increased its quarterly dividend to $0.56 per share, implying a 5.7% annual yield.

Allen Mooney & Barnes Investment Advisors LLC decreased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 8.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 458,936 shares of the oil and gas producer's stock after selling 44,858 shares during the period. Enterprise Products Partners accounts for 2.6% of Allen Mooney & Barnes Investment Advisors LLC's investment portfolio, making the stock its 10th largest position. Allen Mooney & Barnes Investment Advisors LLC's holdings in Enterprise Products Partners were worth $16,871,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of EPD. Palisade Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at about $31,000. N.E.W. Advisory Services LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth approximately $37,000. Bravera Wealth boosted its position in Enterprise Products Partners by 666.7% during the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer's stock valued at $38,000 after buying an additional 900 shares during the period. BOK Financial Private Wealth Inc. purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at about $48,000. Finally, Kestra Investment Management LLC bought a new position in Enterprise Products Partners during the 2nd quarter worth approximately $48,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EPD has been the topic of several recent analyst reports. TD Cowen restated a "hold" rating and issued a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Scotiabank reiterated a "sector perform" rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Wall Street Zen cut shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 29th. JPMorgan Chase & Co. raised their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, Morgan Stanley restated an "underweight" rating and issued a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.00.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $39.25 on Friday. The business has a 50 day moving average of $38.09 and a 200 day moving average of $37.77. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The company has a market cap of $84.76 billion, a PE ratio of 13.63, a P/E/G ratio of 1.44 and a beta of 0.50. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business had revenue of $18.27 billion for the quarter, compared to analysts' expectations of $13.69 billion. During the same quarter in the previous year, the business posted $0.66 earnings per share. The firm's revenue for the quarter was up 60.8% compared to the same quarter last year. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a dividend of $0.56 per share. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.7%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 77.78%.

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.

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