AR Asset Management Inc. Has $6 Million Stock Position in Enterprise Products Partners L.P. $EPD

Key Points

• AR Asset Management Inc. increased its stake in Enterprise Products Partners by 12.8%, acquiring an additional 20,000 shares, bringing its total holdings to 175,810 shares valued at approximately $6 million.
• Several institutional investors have also made new investments in Enterprise Products Partners, with 26.07% of the stock now owned by institutional investors, highlighting growing interest.
• Enterprise Products Partners recently announced a quarterly dividend increase to $0.545 per share, representing a yield of 6.9%, reflecting the company's strong financial position.

AR Asset Management Inc. increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 12.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 175,810 shares of the oil and gas producer's stock after purchasing an additional 20,000 shares during the period. Enterprise Products Partners makes up approximately 1.4% of AR Asset Management Inc.'s portfolio, making the stock its 23rd largest position. AR Asset Management Inc.'s holdings in Enterprise Products Partners were worth $6,002,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Cowa LLC raised its holdings in Enterprise Products Partners by 1.2% during the first quarter. Cowa LLC now owns 88,807 shares of the oil and gas producer's stock worth $3,032,000 after purchasing an additional 1,012 shares in the last quarter. Oder Investment Management LLC grew its position in shares of Enterprise Products Partners by 5.6% in the first quarter. Oder Investment Management LLC now owns 16,257 shares of the oil and gas producer's stock valued at $555,000 after purchasing an additional 864 shares during the last quarter. Roanoke Asset Management Corp NY grew its position in shares of Enterprise Products Partners by 1.1% in the first quarter. Roanoke Asset Management Corp NY now owns 50,953 shares of the oil and gas producer's stock valued at $1,740,000 after purchasing an additional 565 shares during the last quarter. Forvis Mazars Wealth Advisors LLC lifted its stake in shares of Enterprise Products Partners by 10.1% during the first quarter. Forvis Mazars Wealth Advisors LLC now owns 21,712 shares of the oil and gas producer's stock valued at $741,000 after buying an additional 2,000 shares during the period. Finally, Tocqueville Asset Management L.P. lifted its stake in shares of Enterprise Products Partners by 7.6% during the first quarter. Tocqueville Asset Management L.P. now owns 24,699 shares of the oil and gas producer's stock valued at $843,000 after buying an additional 1,740 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE EPD traded up $0.1550 during midday trading on Wednesday, reaching $31.5650. The company's stock had a trading volume of 783,731 shares, compared to its average volume of 4,729,138. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average price of $31.39 and a 200 day moving average price of $31.84. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The company has a market cap of $68.35 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 1.81 and a beta of 0.66.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its 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 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 firm'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 firm earned $0.64 earnings per share. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, July 31st. Enterprise Products Partners's payout ratio is 81.04%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EPD. Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. TD Cowen began coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They set a "hold" rating and a $33.00 price target for the company. Barclays lowered their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday, July 2nd. Citigroup decreased their price objective on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Stifel Nicolaus decreased their price target on shares of 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 investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $36.25.

Insider Buying and Selling

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