Enterprise Products Partners L.P. $EPD Shares Acquired by Central Valley Advisors LLC

Key Points

• Central Valley Advisors LLC increased its stake in Enterprise Products Partners by 458.5% during the 2nd quarter, now owning 55,786 shares valued at approximately $1.73 million.
• Analysts have adjusted their price targets for Enterprise Products Partners, with the consensus rating now classified as "Moderate Buy" and an average target price of $35.83.
• Enterprise Products Partners announced a quarterly dividend increase to $0.545 per share, which reflects an annualized yield of 6.9%.

Central Valley Advisors LLC lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 458.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,786 shares of the oil and gas producer's stock after purchasing an additional 45,797 shares during the period. Central Valley Advisors LLC's holdings in Enterprise Products Partners were worth $1,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in Enterprise Products Partners in the first quarter valued at approximately $27,000. Wealth Preservation Advisors LLC acquired a new position in Enterprise Products Partners in the first quarter valued at approximately $28,000. Security National Bank acquired a new position in Enterprise Products Partners in the first quarter valued at approximately $30,000. Alpine Bank Wealth Management acquired a new position in Enterprise Products Partners in the first quarter valued at approximately $31,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Enterprise Products Partners in the first quarter valued at approximately $34,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on EPD shares. Barclays decreased their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. 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. Morgan Stanley decreased their price target 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. Scotiabank upped their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 5th. Finally, Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an "outperform" rating in a research note on Friday, July 11th. Two 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $35.83.

Insider Activity

In other news, Director William C. Montgomery acquired 16,000 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were bought at an average price of $31.55 per share, with a total value of $504,800.00. Following the completion of the acquisition, the director owned 136,920 shares in the company, valued at $4,319,826. This trade represents a 13.23% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John R. Rutherford acquired 15,000 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were purchased at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director owned 158,586 shares of the company's stock, 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. Company insiders own 32.60% of the company's stock.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $31.78 on Wednesday. The firm has a market capitalization of $68.81 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.98 and a beta of 0.69. The business's fifty day moving average price is $31.57 and its 200 day moving average price is $31.63. 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 12 month low of $27.77 and a 12 month high of $34.63.

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 the consensus estimate of $0.67 by ($0.01). The business had revenue of $11.36 billion during the quarter, compared to analysts' expectations of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business's quarterly revenue was down 15.7% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were issued a dividend of $0.545 per share. The ex-dividend date of this dividend was Thursday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. Enterprise Products Partners's dividend payout ratio is 81.04%.

Enterprise Products Partners Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.