Enterprise Products Partners L.P. $EPD Shares Acquired by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its stake in Enterprise Products Partners L.P. by 16.7%, owning 242,961 shares valued at approximately $8.3 million after acquiring additional shares in the first quarter.
• Enterprise Products reported an EPS of $0.66 for the last quarter, falling short of the consensus estimate by $0.01, with a 15.7% year-over-year decline in revenue.
• The company has announced a quarterly dividend increase to $0.545 per share, representing an annualized yield of 6.9% with a payout ratio of 81.04%.

Empowered Funds LLC boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 16.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,961 shares of the oil and gas producer's stock after buying an additional 34,810 shares during the period. Empowered Funds LLC's holdings in Enterprise Products Partners were worth $8,295,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in EPD. Strategic Advisors LLC grew its position in shares of Enterprise Products Partners by 3.5% during the first quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer's stock worth $341,000 after acquiring an additional 337 shares during the last quarter. Per Stirling Capital Management LLC. boosted its stake in Enterprise Products Partners by 1.5% during the 1st quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer's stock valued at $804,000 after purchasing an additional 339 shares during the period. Keystone Wealth Services LLC grew its position in Enterprise Products Partners by 2.6% in the 1st quarter. Keystone Wealth Services LLC now owns 13,937 shares of the oil and gas producer's stock worth $476,000 after purchasing an additional 349 shares during the last quarter. Duncan Williams Asset Management LLC increased its stake in shares of Enterprise Products Partners by 4.5% in the first quarter. Duncan Williams Asset Management LLC now owns 8,207 shares of the oil and gas producer's stock valued at $280,000 after purchasing an additional 357 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Enterprise Products Partners by 1.2% in the first quarter. Russell Investments Group Ltd. now owns 32,403 shares of the oil and gas producer's stock valued at $1,106,000 after purchasing an additional 372 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $31.55 on Wednesday. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The stock has a market cap of $68.31 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 1.97 and a beta of 0.69. The company's 50-day moving average price is $31.54 and its two-hundred day moving average price is $31.69.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced 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 prior year, the firm earned $0.64 EPS. The business's revenue for the quarter was down 15.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a dividend of $0.545 per share. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date was Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. Enterprise Products Partners's payout ratio is currently 81.04%.

Insiders Place Their Bets

In related news, Director William C. Montgomery acquired 16,000 shares of Enterprise Products Partners stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average cost of $31.55 per share, with a total value of $504,800.00. Following the purchase, the director directly owned 136,920 shares in the company, valued at $4,319,826. The trade was a 13.23% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John R. Rutherford bought 15,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were bought at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the transaction, the director directly owned 158,586 shares of the company's stock, valued at $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 currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EPD. Scotiabank boosted their price objective on 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. Citigroup cut their target price 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. Barclays decreased their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research note on Wednesday, July 2nd. Morgan Stanley lowered their price target on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 26th. Finally, TD Cowen initiated coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They issued a "hold" rating and a $33.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $35.83.

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.

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