Wealthspire Advisors LLC Has $2.88 Million Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Key Points

• Wealthspire Advisors LLC increased its holdings in Enterprise Products Partners by 138.8% during Q1, owning 84,382 shares valued at approximately $2.88 million.
• Enterprise Products Partners reported a quarterly EPS of $0.66, missing estimates by $0.01, with revenues declining 15.7% year-over-year.
• The company recently announced a quarterly dividend increase to $0.545, reflecting a 7.0% dividend yield and a payout ratio of 81.04%.

Wealthspire Advisors LLC lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 138.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 84,382 shares of the oil and gas producer's stock after buying an additional 49,046 shares during the quarter. Wealthspire Advisors LLC's holdings in Enterprise Products Partners were worth $2,881,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Colonial Trust Co SC lifted its position in Enterprise Products Partners by 44.9% in the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 314 shares during the last quarter. Strategic Advisors LLC lifted its position in Enterprise Products Partners by 3.5% in the 1st quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer's stock valued at $341,000 after purchasing an additional 337 shares during the last quarter. Full Sail Capital LLC lifted its position in Enterprise Products Partners by 3.9% in the 4th quarter. Full Sail Capital LLC now owns 9,081 shares of the oil and gas producer's stock valued at $285,000 after purchasing an additional 341 shares during the last quarter. Keystone Wealth Services LLC lifted 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 valued at $476,000 after purchasing an additional 349 shares during the last quarter. Finally, Duncan Williams Asset Management LLC lifted its position in Enterprise Products Partners by 4.5% in the 1st 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 last quarter. 26.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Enterprise Products Partners news, Director William C. Montgomery bought 16,000 shares of Enterprise Products Partners stock in a transaction 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 completion of the purchase, the director directly owned 136,920 shares of the company's stock, valued at $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Rutherford purchased 15,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the transaction, the director owned 158,586 shares of the company's stock, valued at approximately $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 owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. TD Cowen assumed coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They set a "hold" rating and a $33.00 target price on the stock. Stifel Nicolaus lowered their target price on shares of 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. Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the company an "outperform" rating in a research note on Friday, July 11th. Finally, Barclays lowered their price objective on shares of 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. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.25.

Enterprise Products Partners Trading Up 0.2%

Shares of EPD traded up $0.06 during midday trading on Wednesday, hitting $31.21. The stock had a trading volume of 4,912,421 shares, compared to its average volume of 4,446,089. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98. The firm has a market cap of $67.70 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 1.80 and a beta of 0.66. The business has a 50-day simple moving average of $31.37 and a two-hundred day simple moving average of $31.99. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63.

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). The company had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a return on equity of 19.88% and a net margin of 10.71%. The business's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 earnings per share. As a group, equities analysts forecast 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 will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 7.0%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 31st. Enterprise Products Partners's dividend 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.