Enterprise Products Partners L.P. $EPD Shares Acquired by Howard Financial Services LTD.

Key Points

• Howard Financial Services LTD. increased its stake in Enterprise Products Partners L.P. by 23.9%, acquiring a total of 115,985 shares valued at approximately $3.6 million.
• Analysts have varying price targets for the stock, with Scotiabank raising it from $35.00 to $36.00, while Stifel Nicolaus lowered theirs from $36.00 to $35.00, resulting in a consensus target of $35.83.
• Enterprise Products Partners declared a quarterly dividend of $0.545 per share, reflecting an increase from the previous dividend and a yield of 6.9%.

Howard Financial Services LTD. lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 23.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,985 shares of the oil and gas producer's stock after purchasing an additional 22,354 shares during the period. Howard Financial Services LTD.'s holdings in Enterprise Products Partners were worth $3,597,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Scotiabank upped their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. TD Cowen assumed coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 price target on the stock. Stifel Nicolaus cut their price target 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, Morgan Stanley cut their price target on shares of 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. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.83.

Enterprise Products Partners Stock Down 0.6%

EPD stock opened at $31.75 on Friday. 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 1-year low of $27.77 and a 1-year high of $34.63. The firm has a fifty day moving average price of $31.56 and a two-hundred day moving average price of $31.66. The firm has a market cap of $68.75 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 2.00 and a beta of 0.69.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. The firm's revenue for the quarter was down 15.7% on a year-over-year basis. Research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a dividend of $0.545 per share. The ex-dividend date 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 yield of 6.9%. Enterprise Products Partners's payout ratio is presently 81.04%.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery bought 16,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was purchased 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 in the company, valued at approximately $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John R. Rutherford bought 15,000 shares of the stock in a transaction on Tuesday, July 29th. The shares were acquired at an average price of $31.35 per share, with a total value of $470,250.00. Following the purchase, the director owned 158,586 shares of the company's stock, valued at $4,971,671.10. The trade was 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 insiders.

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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