Heritage Wealth Advisors Has $12.40 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Key Points

• Heritage Wealth Advisors reduced its stake in Enterprise Products Partners L.P. by 2.3%, holding 363,268 shares valued at approximately $12.4 million after selling 8,596 shares in the first quarter.
• Multiple institutional investors have changed their positions, with Colonial Trust Co SC increasing its stake by 44.9% recently, while overall, institutional investors own 26.07% of the company's stock.
• Enterprise Products Partners L.P. has declared a quarterly dividend increase to $0.545 per share, exceeding the previous dividend, providing investors with a ~7.0% yield.

Heritage Wealth Advisors decreased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 363,268 shares of the oil and gas producer's stock after selling 8,596 shares during the period. Heritage Wealth Advisors' holdings in Enterprise Products Partners were worth $12,402,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of EPD. Security National Bank acquired a new position in Enterprise Products Partners during the 1st quarter valued at about $30,000. Alpine Bank Wealth Management acquired a new position in Enterprise Products Partners during the 1st quarter valued at about $31,000. National Bank of Canada FI grew its stake in shares of Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 360 shares during the last quarter. Colonial Trust Co SC grew its stake in shares of 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 worth $32,000 after purchasing an additional 314 shares during the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Trading Down 0.8%

Shares of EPD traded down $0.24 during midday trading on Friday, hitting $30.75. The stock had a trading volume of 4,221,882 shares, compared to its average volume of 4,092,727. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The business has a 50-day simple moving average of $31.38 and a two-hundred day simple moving average of $32.04. The firm has a market cap 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. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced 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 return on equity of 19.88% and a net margin of 10.71%. The firm had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. The business's quarterly revenue was down 15.7% compared to the same quarter last year. 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 business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be issued a dividend of $0.545 per share. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Thursday, July 31st. Enterprise Products Partners's dividend payout ratio is 81.04%.

Wall Street Analysts Forecast Growth

EPD has been the topic of several recent research reports. Scotiabank lifted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 5th. Citigroup lowered their price objective on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the stock an "outperform" rating in a research note on Friday, July 11th. Finally, Stifel Nicolaus lowered their price objective 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. Five analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Enterprise Products Partners has an average rating of "Moderate Buy" and a consensus target price of $36.25.

Insider Activity at Enterprise Products Partners

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

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.