Enterprise Products Partners L.P. (NYSE:EPD) Holdings Lifted by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors increased its stake in Enterprise Products Partners by 38.6%, holding 74,376 shares worth approximately $2.54 million after purchasing an additional 20,699 shares.
• Enterprise Products Partners recently reported earnings of $0.66 per share, missing analyst expectations, with revenue of $11.36 billion, down 15.7% year-over-year.
• The company has announced a quarterly dividend of $0.545, reflecting a yield of 7.0%, which is an increase from the previous dividend of $0.54.

Arkadios Wealth Advisors grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 38.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,376 shares of the oil and gas producer's stock after acquiring an additional 20,699 shares during the period. Arkadios Wealth Advisors' holdings in Enterprise Products Partners were worth $2,539,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Colonial Trust Co SC lifted its position in shares of Enterprise Products Partners by 44.9% during the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 314 shares in the last quarter. Strategic Advisors LLC lifted its position 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 in the last quarter. Full Sail Capital LLC lifted its position in shares of Enterprise Products Partners by 3.9% during the fourth quarter. Full Sail Capital LLC now owns 9,081 shares of the oil and gas producer's stock worth $285,000 after purchasing an additional 341 shares in the last quarter. Keystone Wealth Services LLC lifted its position in shares of Enterprise Products Partners by 2.6% during the first quarter. Keystone Wealth Services LLC now owns 13,937 shares of the oil and gas producer's stock worth $476,000 after purchasing an additional 349 shares in the last quarter. Finally, Duncan Williams Asset Management LLC lifted its stake in shares of Enterprise Products Partners by 4.5% in the first quarter. Duncan Williams Asset Management LLC now owns 8,207 shares of the oil and gas producer's stock worth $280,000 after acquiring an additional 357 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of Enterprise Products Partners stock in a transaction dated Tuesday, July 29th. The stock was acquired at an average cost of $31.35 per share, with a total value of $470,250.00. Following the purchase, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William C. Montgomery acquired 16,000 shares of Enterprise Products Partners stock in a transaction dated Wednesday, July 30th. The shares were bought at an average cost of $31.55 per share, with a total value of $504,800.00. Following the completion of the purchase, the director owned 136,920 shares in the company, valued at approximately $4,319,826. This represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company's stock.

Enterprise Products Partners Stock Down 0.8%

NYSE EPD traded down $0.24 on Friday, hitting $30.75. 4,221,882 shares of the stock traded hands, compared to its average volume of 4,092,727. 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 stock has a 50-day moving average of $31.38 and a 200 day moving average of $32.04. The company has a market capitalization of $66.69 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 1.79 and a beta of 0.66. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.88% and a net margin of 10.71%. The business had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter last year, the firm posted $0.64 EPS. The company's revenue was down 15.7% compared to the same quarter last year. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a dividend of $0.545 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $2.18 annualized dividend and a dividend yield of 7.1%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio is 81.04%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EPD shares. Citigroup lowered their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. 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 research note on Thursday, June 5th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the company an "outperform" rating in a research note on Friday, July 11th. TD Cowen initiated 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. Finally, Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $36.25.

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.