Enterprise Products Partners L.P. $EPD Shares Bought by Focus Partners Wealth

Key Points

• Focus Partners Wealth increased its holdings in Enterprise Products Partners L.P. by 68.0%, acquiring an additional 338,620 shares, bringing their total shares owned to 836,936, valued at approximately $28.57 million.
• Enterprise Products Partners disclosed a dividend increase to $0.545 per share, reflecting an annualized dividend yield of 6.8% and a payout ratio of 81.04%.
• Recently, Enterprise Products Partners reported quarterly earnings of $0.66 EPS, slightly missing the consensus estimate, with a revenue of $11.36 billion, down 15.7% year-over-year.

Focus Partners Wealth increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 68.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 836,936 shares of the oil and gas producer's stock after purchasing an additional 338,620 shares during the quarter. Focus Partners Wealth's holdings in Enterprise Products Partners were worth $28,573,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Diversified Trust Co raised its holdings in Enterprise Products Partners by 13.7% in the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer's stock worth $516,000 after purchasing an additional 1,821 shares during the period. Aurora Private Wealth Inc. raised its holdings in shares of Enterprise Products Partners by 3,044.1% during the first quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer's stock valued at $6,853,000 after acquiring an additional 194,336 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in shares of Enterprise Products Partners by 20.0% during the first quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer's stock valued at $4,553,000 after acquiring an additional 22,202 shares during the last quarter. Forbes J M & Co. LLP acquired a new position in shares of Enterprise Products Partners during the first quarter valued at approximately $290,000. Finally, Nuveen LLC acquired a new position in shares of Enterprise Products Partners during the first quarter valued at approximately $22,284,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on EPD. 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. TD Cowen began coverage on Enterprise Products Partners in a report on Monday, July 7th. They set a "hold" rating and a $33.00 target price for the company. Scotiabank increased their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. Stifel Nicolaus reduced their target price on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Finally, Morgan Stanley reduced their target price on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating for the company in a report on Tuesday, August 26th. Two equities research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $35.83.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery acquired 16,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost 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 of the company's stock, valued at approximately $4,319,826. The trade was a 13.23% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John R. Rutherford acquired 15,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was acquired at an average price of $31.35 per share, with a total value 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 position. The disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company's stock.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $31.93 on Friday. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The stock has a market cap of $69.14 billion, a PE ratio of 11.87, a P/E/G ratio of 1.98 and a beta of 0.69. The stock has a 50 day moving average price of $31.55 and a 200 day moving average price of $31.67.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly 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 company 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 business posted $0.64 EPS. Enterprise Products Partners's revenue for the quarter was down 15.7% compared to the same quarter last year. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed 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 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 6.8%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 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.

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