Cwm LLC Increases Stock Position in Enterprise Products Partners L.P. $EPD

Key Points

• Cwm LLC increased its stake in Enterprise Products Partners by 23.8% in the second quarter, owning 121,883 shares valued at approximately $3.78 million after purchasing an additional 23,409 shares.
• Several institutional investors, including JPMorgan Chase and Alps Advisors, also raised their positions in Enterprise Products Partners, indicating growing institutional interest in the stock.
• The stock has a consensus rating of "Moderate Buy" with a price target of $35.82, while it last reported quarterly earnings showing a slight miss against analyst estimates.

Cwm LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 23.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,883 shares of the oil and gas producer's stock after purchasing an additional 23,409 shares during the period. Cwm LLC's holdings in Enterprise Products Partners were worth $3,780,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Alps Advisors Inc. lifted its stake in shares of Enterprise Products Partners by 5.0% during the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock valued at $1,410,891,000 after buying an additional 1,967,188 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Enterprise Products Partners by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer's stock valued at $375,662,000 after buying an additional 457,045 shares during the period. Chickasaw Capital Management LLC lifted its stake in shares of Enterprise Products Partners by 1.5% during the second quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer's stock valued at $171,022,000 after buying an additional 81,135 shares during the period. BROOKFIELD Corp ON lifted its stake in shares of Enterprise Products Partners by 2.8% during the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer's stock valued at $160,416,000 after buying an additional 128,545 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Enterprise Products Partners by 65.3% during the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer's stock valued at $148,415,000 after buying an additional 1,717,768 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Morgan Stanley reduced 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 research note on Tuesday, August 26th. TD Cowen assumed coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They set a "hold" rating and a $33.00 price target for the company. Barclays dropped 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 research report on Wednesday, July 2nd. Scotiabank dropped their price target on shares of 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. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.82.

Insider Buying and Selling 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 stock was bought at an average price of $31.55 per share, with a total value of $504,800.00. Following the completion of the transaction, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 cost of $31.35 per share, with a total value of $470,250.00. Following the transaction, the director directly owned 158,586 shares of the company's stock, valued at approximately $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is owned by corporate insiders.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $30.27 on Friday. 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 fifty day moving average of $31.54 and a 200-day moving average of $31.31. The firm has a market capitalization of $65.54 billion, a P/E ratio of 11.25, a PEG ratio of 2.17 and a beta of 0.64. 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 released its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) 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 business had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period in the previous year, the company earned $0.64 EPS. Enterprise Products Partners's revenue was down 15.7% on a year-over-year basis. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS 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. Stockholders of record on Friday, October 31st will be given a $0.545 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.18 annualized dividend and a dividend yield of 7.2%. Enterprise Products Partners's dividend payout ratio is presently 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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