Almanack Investment Partners LLC. Acquires 20,463 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• Almanack Investment Partners LLC has increased its holdings in Enterprise Products Partners L.P. by 82.8%, acquiring an additional 20,463 shares, bringing its total to 45,164 shares valued at approximately $1.4 million.
• Enterprise Products Partners reported a quarterly earnings miss, with $0.66 EPS against the expected $0.67 EPS, as revenue fell by 15.7% year-on-year to $11.36 billion.
• The company recently declared a quarterly dividend of $0.545, with a yield of 7.1%, reflecting an 81.04% dividend payout ratio.

Almanack Investment Partners LLC. grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 82.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 45,164 shares of the oil and gas producer's stock after acquiring an additional 20,463 shares during the period. Almanack Investment Partners LLC.'s holdings in Enterprise Products Partners were worth $1,401,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EPD. ING Groep NV bought a new position in shares of Enterprise Products Partners during the first quarter valued at $71,052,000. Alps Advisors Inc. raised its stake in shares of Enterprise Products Partners by 5.0% during the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock valued at $1,410,891,000 after acquiring an additional 1,967,188 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Enterprise Products Partners by 65.3% during the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer's stock valued at $148,415,000 after acquiring an additional 1,717,768 shares during the last quarter. Northside Capital Management LLC bought a new position in shares of Enterprise Products Partners during the second quarter valued at $47,628,000. Finally, Truist Financial Corp raised its stake in shares of Enterprise Products Partners by 293.6% during the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer's stock valued at $68,927,000 after acquiring an additional 1,506,055 shares during the last quarter. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $30.81 on Monday. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The firm has a fifty day simple moving average of $31.58 and a 200 day simple moving average of $31.37. The company has a market capitalization of $66.70 billion, a PE ratio of 11.45, a P/E/G ratio of 2.19 and a beta of 0.64. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. Enterprise Products Partners's revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 EPS. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a $0.545 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.18 annualized dividend and a dividend yield of 7.1%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 81.04%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an "outperform" rating in a research note on Friday, July 11th. Stifel Nicolaus lowered their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Scotiabank lowered their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating for the company in a research note on Friday, September 19th. Finally, Morgan Stanley lowered their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $35.75.

Insider Activity

In other news, Director William C. Montgomery bought 16,000 shares of Enterprise Products Partners stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the purchase, the director directly owned 136,920 shares in the company, valued at approximately $4,319,826. This represents a 13.23% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction dated 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 completion of the purchase, the director owned 158,586 shares in the company, valued at $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company's stock.

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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