Blair William & Co. IL Has $34.28 Million Position in Enterprise Products Partners L.P. $EPD

Key Points

• Blair William & Co. IL increased its position in Enterprise Products Partners by 32.8% in the 2nd quarter, owning approximately 1.1 million shares worth $34.28 million.
• Several research firms have revised their price targets for EPD, with a consensus target price now at $35.75 and a consensus rating of "Moderate Buy."
• Enterprise Products Partners recently announced a quarterly dividend of $0.545 per share, yielding 7.0%, set to be paid on November 14th.

Blair William & Co. IL increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 32.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,105,472 shares of the oil and gas producer's stock after purchasing an additional 273,223 shares during the period. Blair William & Co. IL owned approximately 0.05% of Enterprise Products Partners worth $34,281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPD. Brooklyn Investment Group acquired a new position in shares of Enterprise Products Partners in the 1st quarter worth approximately $27,000. Wealth Preservation Advisors LLC bought a new stake in Enterprise Products Partners in the first quarter valued at $28,000. Security National Bank bought a new stake in Enterprise Products Partners in the first quarter valued at $30,000. Alpine Bank Wealth Management acquired a new position in Enterprise Products Partners during the first quarter worth $31,000. Finally, Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners during the second quarter valued at $29,000. Institutional investors own 26.07% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on EPD. Stifel Nicolaus lowered their target price 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. Scotiabank reduced their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating on the stock in a research report on Friday, September 19th. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the stock an "outperform" rating in a report on Friday, July 11th. TD Cowen began coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They issued a "hold" rating and a $33.00 target price for the company. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Enterprise Products Partners in a report on Wednesday. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $35.75.

Insider Buying and Selling

In other Enterprise Products Partners news, Director William C. Montgomery bought 16,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was purchased at an average price of $31.55 per share, with a total value of $504,800.00. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John R. Rutherford bought 15,000 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were acquired at an average price of $31.35 per share, with a total value of $470,250.00. Following the transaction, the director directly owned 158,586 shares in the company, valued at approximately $4,971,671.10. The trade was a 10.45% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by company insiders.

Enterprise Products Partners Trading Down 1.2%

Shares of EPD opened at $31.27 on Friday. The stock's fifty day simple moving average is $31.58 and its 200-day simple moving average is $31.42. The firm has a market capitalization of $67.70 billion, a PE ratio of 11.62, a price-to-earnings-growth 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 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). 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 the consensus estimate of $15.24 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The business's revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 7.0%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners's dividend payout ratio is currently 81.04%.

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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