JRM Investment Counsel LLC Has $16.32 Million Stock Holdings in Enterprise Products Partners L.P. $EPD

Key Points

• JRM Investment Counsel LLC increased its position in Enterprise Products Partners L.P. by 2.3% in Q1, now owning 477,983 shares worth $16.3 million, marking it as the fund's 5th largest position.
• Enterprise Products Partners reported earnings per share (EPS) of $0.66 for the last quarter, missing expectations by $0.01, and its revenue declined by 15.7% year-over-year.
• The company has announced a quarterly dividend increase to $0.545 per share, representing an annualized yield of 6.8%, with a payout ratio of 81.04%.

JRM Investment Counsel LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 2.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 477,983 shares of the oil and gas producer's stock after purchasing an additional 10,804 shares during the period. Enterprise Products Partners comprises 5.6% of JRM Investment Counsel LLC's portfolio, making the stock its 5th largest position. JRM Investment Counsel LLC's holdings in Enterprise Products Partners were worth $16,318,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EPD. Brighton Jones LLC raised its stake in Enterprise Products Partners by 19.9% during 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 buying an additional 5,425 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Enterprise Products Partners by 22.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,091 shares of the oil and gas producer's stock valued at $316,000 after buying an additional 1,848 shares in the last quarter. Hsbc Holdings PLC raised its stake in Enterprise Products Partners by 132.6% during the fourth quarter. Hsbc Holdings PLC now owns 569,364 shares of the oil and gas producer's stock valued at $17,872,000 after buying an additional 324,594 shares in the last quarter. Hancock Whitney Corp raised its stake in Enterprise Products Partners by 16.1% during the fourth quarter. Hancock Whitney Corp now owns 14,098 shares of the oil and gas producer's stock valued at $442,000 after buying an additional 1,955 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its stake in Enterprise Products Partners by 2.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 163,082 shares of the oil and gas producer's stock valued at $5,114,000 after buying an additional 3,871 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Stock Performance

EPD traded up $0.2740 during trading hours on Friday, hitting $31.8840. The company's stock had a trading volume of 2,870,647 shares, compared to its average volume of 4,718,594. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two 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 firm has a market capitalization of $69.04 billion, a PE ratio of 11.85, a PEG ratio of 1.84 and a beta of 0.66. The company has a 50-day simple moving average of $31.37 and a 200 day simple moving average of $31.80.

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). 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 during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The firm's revenue was down 15.7% compared to the same quarter last year. As a group, sell-side analysts expect 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. Investors of record on Thursday, July 31st were given a $0.545 dividend. The ex-dividend date was Thursday, July 31st. This represents a $2.18 annualized dividend and a yield of 6.8%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's payout ratio is 81.04%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Stifel Nicolaus cut their price objective 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. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an "outperform" rating in a research report on Friday, July 11th. Citigroup dropped their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Finally, Barclays dropped their price target 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. 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.25.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. The trade was a 10.45% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William C. Montgomery bought 16,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the transaction, the director owned 136,920 shares in the company, valued at $4,319,826. This trade represents a 13.23% 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 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.