Exencial Wealth Advisors LLC Decreases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Key Points

• Exencial Wealth Advisors LLC has reduced its holdings in Enterprise Products Partners L.P. by 10.9%, now owning 100,422 shares valued at approximately $3.43 million.
• Enterprise Products Partners recently increased its quarterly dividend to $0.545 per share, reflecting an annual yield of 7.0%.
• The company's latest earnings report showed a decline in revenue to $11.36 billion, missing expectations, and a reported earnings per share of $0.66, slightly below analysts’ estimates.

Exencial Wealth Advisors LLC reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 10.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 100,422 shares of the oil and gas producer's stock after selling 12,284 shares during the period. Exencial Wealth Advisors LLC's holdings in Enterprise Products Partners were worth $3,428,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Security National Bank purchased a new stake in Enterprise Products Partners in the 1st quarter worth about $30,000. Alpine Bank Wealth Management purchased a new stake in shares of Enterprise Products Partners during the first quarter worth $31,000. National Bank of Canada FI boosted its holdings in shares of Enterprise Products Partners by 55.4% in 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 acquiring an additional 360 shares during the period. Colonial Trust Co SC grew its position in shares of Enterprise Products Partners by 44.9% in the fourth 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 in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Enterprise Products Partners in the first quarter valued at $34,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Up 0.9%

Shares of NYSE EPD traded up $0.27 during mid-day trading on Friday, hitting $31.46. The stock had a trading volume of 5,434,247 shares, compared to its average volume of 4,774,363. The firm has a market cap of $68.23 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 1.80 and a beta of 0.66. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. 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 business has a 50 day moving average price of $31.36 and a two-hundred day moving average price of $31.97.

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 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 business had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the prior year, the company earned $0.64 EPS. Enterprise Products Partners's revenue was down 15.7% compared to the same quarter last year. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be given a $0.545 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio is currently 81.04%.

Insider Buying and Selling

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. This represents a 10.45% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William C. Montgomery acquired 16,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was acquired at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the acquisition, the director owned 136,920 shares of the company's stock, 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. Company insiders own 32.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on EPD. Barclays cut their target price on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research note on Wednesday, July 2nd. Scotiabank upped their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Thursday, June 5th. Argus raised Enterprise Products Partners to a "strong-buy" rating in a report 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 report on Friday, July 11th. Finally, Stifel Nicolaus dropped their target price on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, July 29th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently 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.