Farther Finance Advisors LLC Raises Stock Holdings in Enterprise Products Partners L.P. $EPD

Key Points

• Farther Finance Advisors LLC increased its holdings in Enterprise Products Partners by 49.0%, owning a total of 64,966 shares valued at $2,015,000.
• Enterprise Products Partners reported earnings per share of $0.66 for the last quarter, missing analyst expectations of $0.67, with revenue declining 15.7% year-over-year.
• The company announced a quarterly dividend increase to $0.545 per share, resulting in an annualized dividend of $2.18 and a yield of 6.9%.

Farther Finance Advisors LLC boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 49.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,966 shares of the oil and gas producer's stock after purchasing an additional 21,366 shares during the quarter. Farther Finance Advisors LLC's holdings in Enterprise Products Partners were worth $2,015,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EPD. Brooklyn Investment Group purchased a new position in Enterprise Products Partners during the first quarter worth approximately $27,000. Wealth Preservation Advisors LLC purchased a new position in shares of Enterprise Products Partners in the first quarter valued at approximately $28,000. Security National Bank purchased a new position in shares of Enterprise Products Partners in the first quarter valued at approximately $30,000. Alpine Bank Wealth Management purchased a new position in shares of Enterprise Products Partners in the first quarter valued at approximately $31,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Enterprise Products Partners in the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Trading Down 0.9%

Shares of NYSE EPD opened at $31.40 on Tuesday. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The stock has a fifty day simple moving average of $31.55 and a 200-day simple moving average of $31.58. The stock has a market capitalization of $67.99 billion, a PE ratio of 11.67, a PEG ratio of 2.25 and a beta of 0.69.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share 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 19.81%. The firm had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The company's quarterly revenue was down 15.7% compared to the same quarter last year. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

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

Insiders Place Their Bets

In related news, Director John R. Rutherford purchased 15,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were bought at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William C. Montgomery purchased 16,000 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were bought 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 in the company, valued at $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 32.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EPD. TD Cowen began coverage on Enterprise Products Partners in a research report on Monday, July 7th. They issued a "hold" rating and a $33.00 target price on the stock. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the company an "outperform" rating in a research report on Friday, July 11th. Morgan Stanley decreased their target price on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 26th. Barclays decreased their target price on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 2nd. Finally, Stifel Nicolaus decreased their target price on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $35.75.

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.

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