Ameritas Advisory Services LLC Reduces Stake in Enterprise Products Partners L.P. $EPD

Key Points

• Ameritas Advisory Services LLC reduced its stake in Enterprise Products Partners L.P. by 58% in the second quarter, leaving them with 17,561 shares valued at around $545,000.
• Insider transactions revealed that two directors purchased a combined total of 31,000 shares at an average price of approximately $31.45 per share, increasing their ownership stakes significantly.
• Enterprise Products Partners reported a missed earnings estimate for the last quarter, with earnings per share of $0.66 compared to the consensus estimate of $0.67, and a revenue of $11.36 billion against an estimate of $15.24 billion.

Ameritas Advisory Services LLC lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 58.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,561 shares of the oil and gas producer's stock after selling 24,286 shares during the quarter. Ameritas Advisory Services LLC's holdings in Enterprise Products Partners were worth $545,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brooklyn Investment Group bought a new stake in shares of Enterprise Products Partners during the 1st quarter valued at about $27,000. Wealth Preservation Advisors LLC bought a new stake in Enterprise Products Partners during the first quarter valued at approximately $28,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners during the second quarter valued at approximately $29,000. Security National Bank purchased a new stake in Enterprise Products Partners during the first quarter valued at approximately $30,000. Finally, Alpine Bank Wealth Management bought a new position in Enterprise Products Partners in the first quarter worth approximately $31,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on EPD shares. TD Cowen started coverage on Enterprise Products Partners in a research note on Monday, July 7th. They issued a "hold" rating and a $33.00 price objective for the company. Stifel Nicolaus decreased their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, July 29th. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the company an "outperform" rating in a research report on Friday, July 11th. Weiss Ratings reissued a "buy (b)" rating on shares of Enterprise Products Partners in a report on Saturday, September 27th. Finally, Scotiabank decreased their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating on the stock in a research note on Friday, September 19th. Two research 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $35.75.

Insiders Place Their Bets

In related news, Director John R. Rutherford purchased 15,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were acquired at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the purchase, the director directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William C. Montgomery acquired 16,000 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were bought at an average cost of $31.55 per share, with a total value of $504,800.00. Following the acquisition, the director directly owned 136,920 shares in the company, valued at approximately $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 32.60% of the company's stock.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $31.52 on Tuesday. The stock has a 50-day moving average price of $31.57 and a 200 day moving average price of $31.43. The stock has a market capitalization of $68.25 billion, a P/E ratio of 11.72, a P/E/G ratio of 2.25 and a beta of 0.64. 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 current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted 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). The business had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The company's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 earnings per share. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners 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.

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