Enterprise Products Partners L.P. $EPD Shares Purchased by Delta Investment Management LLC

Key Points

• Delta Investment Management LLC increased its holdings in Enterprise Products Partners by 7.0%, now owning 340,997 shares valued at approximately $11.64 million, making it the fund's 11th biggest position.
• Directors John R. Rutherford and William C. Montgomery made significant purchases of Enterprise Products Partners' shares, increasing their holdings by 10.45% and 13.23% respectively.
• Analysts have set a consensus price target of $35.83 on Enterprise Products Partners, with ratings varying from "Strong Buy" to "Hold" among different research firms.

Delta Investment Management LLC increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 340,997 shares of the oil and gas producer's stock after purchasing an additional 22,317 shares during the period. Enterprise Products Partners accounts for about 2.4% of Delta Investment Management LLC's holdings, making the stock its 11th biggest holding. Delta Investment Management LLC's holdings in Enterprise Products Partners were worth $11,642,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in Enterprise Products Partners in the first quarter valued at about $27,000. Security National Bank bought a new position in shares of Enterprise Products Partners during the first quarter worth about $30,000. Alpine Bank Wealth Management bought a new position in shares of Enterprise Products Partners during the first quarter worth about $31,000. Colonial Trust Co SC lifted its position in shares of Enterprise Products Partners by 44.9% during the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 314 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Enterprise Products Partners during the first quarter worth about $34,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director William C. Montgomery acquired 16,000 shares of the stock in a transaction that occurred on 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 completion of the purchase, the director directly owned 136,920 shares of the company's stock, valued at $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John R. Rutherford acquired 15,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the purchase, the director directly owned 158,586 shares of the company's stock, valued at approximately $4,971,671.10. This trade 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 company insiders.

Enterprise Products Partners Stock Performance

Shares of EPD traded up $0.19 during mid-day trading on Friday, reaching $32.15. 3,081,118 shares of the company's stock traded hands, compared to its average volume of 4,682,636. 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 debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The stock has a market capitalization of $69.62 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 1.84 and a beta of 0.66. The business's 50-day moving average price is $31.41 and its 200-day moving average price is $31.78.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the business earned $0.64 EPS. Enterprise Products Partners's revenue was down 15.7% compared to the same quarter last year. Equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a dividend of $0.545 per share. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Thursday, July 31st. Enterprise Products Partners's dividend payout ratio (DPR) is 81.04%.

Analyst Upgrades and Downgrades

EPD has been the topic of several research analyst reports. Barclays reduced their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 2nd. Scotiabank increased their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 5th. Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Stifel Nicolaus cut 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. Finally, Argus raised Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $35.83.

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.