Atria Wealth Solutions Inc. Reduces Position in Enterprise Products Partners L.P. $EPD

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Enterprise Products Partners L.P. by 71.6%, now holding 55,437 shares valued at approximately $1.73 million after selling 139,919 shares in the 2nd quarter.
• The company's quarterly earnings report revealed earnings per share of $0.66, below analyst expectations and a 15.7% year-over-year decline in revenue.
• Enterprise Products Partners announced a quarterly dividend of $0.545 per share, reflecting an annualized yield of 7.1%, with a payout ratio currently at 81.04%.

Atria Wealth Solutions Inc. lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 71.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,437 shares of the oil and gas producer's stock after selling 139,919 shares during the period. Atria Wealth Solutions Inc.'s holdings in Enterprise Products Partners were worth $1,729,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in Enterprise Products Partners during the 1st quarter worth approximately $27,000. Wealth Preservation Advisors LLC purchased a new stake in Enterprise Products Partners during the 1st quarter worth approximately $28,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $29,000. Security National Bank purchased a new stake in Enterprise Products Partners during the 1st quarter worth approximately $30,000. Finally, Alpine Bank Wealth Management purchased a new stake in shares of Enterprise Products Partners in the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $30.53 on Thursday. The company's fifty day moving average price is $31.56 and its 200 day moving average price is $31.33. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The company has a market capitalization of $66.11 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 2.19 and a beta of 0.64. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm had revenue of $11.36 billion for the quarter, compared to analysts' expectations of $15.24 billion. During the same period last year, the company posted $0.64 earnings per share. The business's quarterly revenue was down 15.7% on a year-over-year basis. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a dividend of $0.545 per share. The ex-dividend date is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a yield of 7.1%. Enterprise Products Partners's dividend payout ratio is currently 81.04%.

Wall Street Analysts Forecast Growth

EPD has been the topic of several recent research reports. TD Cowen initiated coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 price objective on the stock. Stifel Nicolaus dropped their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, July 29th. Morgan Stanley dropped their price objective on shares of 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. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Finally, Scotiabank dropped their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating on the stock in a report on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of "Moderate Buy" and a consensus price target of $35.75.

Insiders Place Their Bets

In related news, Director William C. Montgomery acquired 16,000 shares of Enterprise Products Partners stock in a transaction on 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 completion of the transaction, the director owned 136,920 shares of the company's stock, valued at approximately $4,319,826. The trade was a 13.23% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John R. Rutherford acquired 15,000 shares of Enterprise Products Partners stock in a transaction on Tuesday, July 29th. The shares were bought at an average price of $31.35 per share, with a total value 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 trade represents a 10.45% increase in their position. 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.

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