Cresta Advisors Ltd. boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 31.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,774 shares of the oil and gas producer's stock after acquiring an additional 9,646 shares during the period. Enterprise Products Partners accounts for about 0.6% of Cresta Advisors Ltd.'s portfolio, making the stock its 26th largest holding. Cresta Advisors Ltd.'s holdings in Enterprise Products Partners were worth $1,264,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in EPD. Brighton Jones LLC lifted its holdings in Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock valued at $1,023,000 after acquiring an additional 5,425 shares during the last quarter. Tidal Investments LLC lifted its holdings in Enterprise Products Partners by 4.3% in the fourth quarter. Tidal Investments LLC now owns 16,358 shares of the oil and gas producer's stock valued at $513,000 after acquiring an additional 680 shares during the last quarter. Copia Wealth Management acquired a new position in Enterprise Products Partners in the fourth quarter valued at approximately $35,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Enterprise Products Partners by 11.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,068,284 shares of the oil and gas producer's stock valued at $33,501,000 after acquiring an additional 106,895 shares during the last quarter. Finally, Penbrook Management LLC lifted its holdings in Enterprise Products Partners by 4.4% in the first quarter. Penbrook Management LLC now owns 11,990 shares of the oil and gas producer's stock valued at $409,000 after acquiring an additional 500 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.
Enterprise Products Partners Stock Down 0.4%
Enterprise Products Partners stock opened at $31.59 on Friday. The firm has a market capitalization of $68.39 billion, a P/E ratio of 11.74, a P/E/G ratio of 2.25 and a beta of 0.69. The stock's fifty day simple moving average is $31.56 and its 200-day simple moving average is $31.57. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve 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. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.
Enterprise Products Partners Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 6.9%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, July 31st. Enterprise Products Partners's dividend payout ratio is currently 81.04%.
Insider Buying and Selling at Enterprise Products Partners
In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average price of $31.35 per share, with a total value of $470,250.00. Following the completion of the acquisition, the director directly owned 158,586 shares of the company's stock, valued at $4,971,671.10. This represents a 10.45% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William C. Montgomery bought 16,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the acquisition, 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 disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company's stock.
Analyst Ratings Changes
A number of analysts have issued reports on EPD shares. Scotiabank cut their target price on Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating on the stock in a research report on Friday, September 19th. Morgan Stanley cut 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 report on Tuesday, August 26th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the company an "outperform" rating in a research report on Friday, July 11th. Barclays cut their target price on 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. Finally, Stifel Nicolaus cut their target price on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $35.75.
Read Our Latest Analysis on EPD
About Enterprise Products Partners
(
Free Report)
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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