128,400 Shares in Enterprise Products Partners L.P. $EPD Acquired by Corigliano Investment Advisers LLC

Key Points

• Corigliano Investment Advisers LLC purchased 128,400 shares of Enterprise Products Partners L.P., valued at approximately $4.38 million, representing about 1.9% of its investment portfolio.
• Enterprise Products Partners recently announced a quarterly dividend increase to $0.545 per share, reflecting a 6.8% dividend yield.
• Despite missing earnings expectations in its latest quarterly report, analysts have varied views on the stock, with a consensus rating of "Moderate Buy" and a target price of $35.83.

Corigliano Investment Advisers LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 128,400 shares of the oil and gas producer's stock, valued at approximately $4,384,000. Enterprise Products Partners makes up 1.9% of Corigliano Investment Advisers LLC's investment portfolio, making the stock its 23rd biggest position.

Several other large investors have also recently made changes to their positions in EPD. Diversified Trust Co boosted its stake in Enterprise Products Partners by 13.7% during the first quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer's stock worth $516,000 after buying an additional 1,821 shares during the last quarter. Aurora Private Wealth Inc. lifted its stake in shares of Enterprise Products Partners by 3,044.1% in the 1st quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer's stock valued at $6,853,000 after purchasing an additional 194,336 shares during the last quarter. Cyndeo Wealth Partners LLC lifted its stake in shares of Enterprise Products Partners by 20.0% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer's stock valued at $4,553,000 after purchasing an additional 22,202 shares during the last quarter. Forbes J M & Co. LLP acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $290,000. Finally, Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at $1,146,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery acquired 16,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the acquisition, the director owned 136,920 shares in the company, valued at $4,319,826. The trade was a 13.23% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John R. Rutherford acquired 15,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was acquired at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director 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. Corporate insiders own 32.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Stifel Nicolaus decreased their price target 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. Citigroup decreased their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an "outperform" rating in a research note on Friday, July 11th. Morgan Stanley decreased their target price on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 26th. Finally, Barclays decreased their target price on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Two equities research 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $35.83.

Enterprise Products Partners Stock Down 0.4%

NYSE EPD traded down $0.13 during trading hours on Friday, hitting $31.68. 5,019,068 shares of the company were exchanged, compared to its average volume of 3,512,463. The company has a 50 day moving average of $31.52 and a two-hundred day moving average of $31.71. 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 L.P. has a 52-week low of $27.77 and a 52-week high of $34.63. The firm has a market cap of $68.58 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.98 and a beta of 0.69.

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

Enterprise Products Partners Increases Dividend

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