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

Key Points

• Mutual Advisors LLC increased its stake in Enterprise Products Partners L.P. by 5.3%, acquiring an additional 10,791 shares valued at approximately $6.75 million.
• Enterprise Products Partners reported earnings per share of $0.66 for the last quarter, which missed the consensus estimate of $0.67, with revenue down 15.7% year-over-year.
• The company announced a quarterly dividend of $0.545 per share, offering a yield of 7.1%, with the ex-dividend date set for October 31st.

Mutual Advisors LLC boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 5.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 213,827 shares of the oil and gas producer's stock after acquiring an additional 10,791 shares during the period. Mutual Advisors LLC's holdings in Enterprise Products Partners were worth $6,746,000 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 lifted its holdings 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 purchasing an additional 337 shares during the period. Per Stirling Capital Management LLC. raised its position 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 worth $804,000 after buying an additional 339 shares during the last quarter. Tranquility Partners LLC lifted its stake in shares of Enterprise Products Partners by 1.4% in the 2nd quarter. Tranquility Partners LLC now owns 23,944 shares of the oil and gas producer's stock worth $743,000 after acquiring an additional 339 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Enterprise Products Partners by 2.1% in the 2nd quarter. Sound Income Strategies LLC now owns 16,796 shares of the oil and gas producer's stock worth $521,000 after acquiring an additional 340 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Enterprise Products Partners by 1.8% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,353 shares of the oil and gas producer's stock valued at $600,000 after acquiring an additional 347 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports 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 for the company in a report on Tuesday, July 29th. TD Cowen started coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a "hold" rating and a $33.00 target price for the company. Barclays decreased their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Scotiabank cut their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating for the company in a research report on Friday, September 19th. Finally, Mizuho set a $38.00 target price on Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Enterprise Products Partners has an average rating of "Moderate Buy" and a consensus price target of $35.75.

Insider Activity

In related news, Director William C. Montgomery acquired 16,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the transaction, the director directly owned 136,920 shares of the company's stock, valued at approximately $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 available through this link. Also, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction that occurred on Tuesday, July 29th. The stock was bought at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the purchase, the director owned 158,586 shares in the company, valued at $4,971,671.10. This represents a 10.45% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is owned by corporate insiders.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $30.78 on Wednesday. The business has a 50 day moving average price of $31.57 and a 200 day moving average price of $31.34. The company has a market capitalization of $66.65 billion, a P/E ratio of 11.44, a PEG ratio of 2.20 and a beta of 0.64. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. 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 (NYSE:EPD - Get Free Report) last posted 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). The firm had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm's revenue for the quarter was down 15.7% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a dividend of $0.545 per share. The ex-dividend date is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a yield of 7.1%. Enterprise Products Partners's payout ratio is presently 81.04%.

About Enterprise Products Partners

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.

Want to see what other hedge funds are holding EPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enterprise Products Partners L.P. (NYSE:EPD - Free Report).

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.