Foundations Investment Advisors LLC Has $7.49 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Key Points

• Foundations Investment Advisors LLC reduced its holdings in Enterprise Products Partners L.P. by 24.4% during the first quarter, selling 70,848 shares and holding a total of 219,515 shares valued at $7,494,000.
• Enterprise Products Partners's recent earnings report showed a missed EPS estimate of $0.66 compared to the consensus estimate of $0.67, with a significant revenue decline of 15.7% year-over-year.
• The company announced a quarterly dividend of $0.545 per share, which represents an increase from the previous dividend and results in a dividend yield of 6.99%.

Foundations Investment Advisors LLC cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 24.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 219,515 shares of the oil and gas producer's stock after selling 70,848 shares during the quarter. Foundations Investment Advisors LLC's holdings in Enterprise Products Partners were worth $7,494,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Security National Bank acquired a new stake in Enterprise Products Partners in the 1st quarter valued at about $30,000. Alpine Bank Wealth Management acquired a new stake in shares of Enterprise Products Partners in the 1st quarter valued at approximately $31,000. National Bank of Canada FI raised its holdings in Enterprise Products Partners by 55.4% during the fourth 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 raised its holdings in 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 during the last quarter. Finally, North Capital Inc. acquired a new position in shares of Enterprise Products Partners in the first quarter worth $38,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John R. Rutherford purchased 15,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was bought at an average price of $31.35 per share, with a total value of $470,250.00. Following the acquisition, the director directly owned 158,586 shares of the company's stock, valued at approximately $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William C. Montgomery bought 16,000 shares of Enterprise Products Partners stock in a transaction that occurred on Wednesday, July 30th. The stock was 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 trade represents a 13.23% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on EPD shares. Stifel Nicolaus lowered their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday. Citigroup lowered their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an "outperform" rating in a research report on Friday, July 11th. Scotiabank upped their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 5th. Finally, Argus raised Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Five equities research 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 MarketBeat, Enterprise Products Partners has an average rating of "Moderate Buy" and an average price target of $36.25.

Enterprise Products Partners Price Performance

NYSE EPD traded down $0.16 during trading on Friday, reaching $30.83. 2,612,667 shares of the company traded hands, compared to its average volume of 4,762,214. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The stock's 50 day moving average price is $31.39 and its two-hundred day moving average price is $32.06. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.64 and a current ratio of 0.86. The company has a market cap of $66.86 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 1.81 and a beta of 0.64.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.88%. The firm had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter last year, the firm posted $0.64 EPS. The business's revenue was down 15.7% on a year-over-year basis. As a group, analysts anticipate 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 issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a 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 (DPR) is presently 81.04%.

Enterprise Products Partners Company 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.