Bridges Investment Management Inc. Grows Stock Position in Enterprise Products Partners L.P. $EPD

Key Points

• Bridges Investment Management Inc. increased its stake in Enterprise Products Partners L.P. by 5.9% in Q2, owning 203,738 shares valued at approximately $6.32 million as of their latest SEC filing.
• Institutional investors now own 26.07% of the company's stock, with additional notable purchases by various hedge funds in recent quarters, demonstrating significant interest in the oil and gas sector.
• Enterprise Products Partners recently announced a quarterly dividend of $0.545 per share, translating to an annual yield of 7.1%, with a payout ratio of 81.04%.

Bridges Investment Management Inc. increased its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 203,738 shares of the oil and gas producer's stock after buying an additional 11,375 shares during the quarter. Bridges Investment Management Inc.'s holdings in Enterprise Products Partners were worth $6,318,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock worth $1,023,000 after purchasing an additional 5,425 shares during the period. GAMMA Investing LLC lifted its stake in Enterprise Products Partners by 3,314.0% in the first quarter. GAMMA Investing LLC now owns 17,070 shares of the oil and gas producer's stock worth $583,000 after purchasing an additional 16,570 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Enterprise Products Partners during the first quarter valued at approximately $954,000. CX Institutional bought a new position in shares of Enterprise Products Partners during the first quarter valued at approximately $56,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Enterprise Products Partners by 4.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,116,068 shares of the oil and gas producer's stock valued at $38,103,000 after buying an additional 47,784 shares during the last quarter. Institutional investors own 26.07% of the company's stock.

Insiders Place Their Bets

In related news, 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 owned 158,586 shares of the company's stock, valued at $4,971,671.10. The trade was a 10.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William C. Montgomery purchased 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, with a total value of $504,800.00. Following the completion of the transaction, the director owned 136,920 shares in the company, valued at approximately $4,319,826. This represents a 13.23% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Scotiabank decreased their target price on Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating for the company in a research report on Friday, September 19th. 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. TD Cowen started coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They issued a "hold" rating and a $33.00 price target on the stock. Finally, Stifel Nicolaus lowered their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $35.75.

Enterprise Products Partners Stock Down 0.8%

NYSE:EPD opened at $30.53 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. 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 50-day moving average of $31.56 and a 200 day moving average of $31.33. The firm has a market cap 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.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted 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). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business had revenue of $11.36 billion for the quarter, compared to analysts' expectations of $15.24 billion. During the same period last year, the business posted $0.64 EPS. The company's revenue for the quarter was down 15.7% on a year-over-year basis. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued 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%.

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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