HB Wealth Management LLC Has $3.67 Million Holdings in Enterprise Products Partners L.P. $EPD

Key Points

• HB Wealth Management LLC reduced its stakes in Enterprise Products Partners L.P. by 17.1% during the second quarter, now holding shares valued at approximately $3.67 million.
• Insider purchases were reported, with Director William C. Montgomery acquiring 16,000 shares and John R. Rutherford purchasing 15,000 shares, reflecting increasing confidence in the company's outlook.
• Enterprise Products Partners recently announced a quarterly dividend increase to $0.545 per share, providing an annualized yield of 7.0% amidst a backdrop of decreasing revenue year-over-year.

HB Wealth Management LLC lessened its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118,482 shares of the oil and gas producer's stock after selling 24,432 shares during the quarter. HB Wealth Management LLC's holdings in Enterprise Products Partners were worth $3,674,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in Enterprise Products Partners during the 1st quarter worth $27,000. Wealth Preservation Advisors LLC acquired a new stake in Enterprise Products Partners during the 1st quarter worth $28,000. Security National Bank acquired a new stake in Enterprise Products Partners during the 1st quarter worth $30,000. Alpine Bank Wealth Management acquired a new stake in shares of Enterprise Products Partners in the 1st quarter valued at about $31,000. Finally, Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners in the second quarter valued at about $29,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery purchased 16,000 shares of Enterprise Products Partners stock in a transaction that occurred 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 completion of 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired 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 $4,971,671.10. This trade represents a 10.45% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by insiders.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $31.27 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The stock's 50-day simple moving average is $31.56 and its 200 day simple moving average is $31.52. The company has a market cap of $67.70 billion, a P/E ratio of 11.62, a P/E/G ratio of 2.22 and a beta of 0.64. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released 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). The company had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. Enterprise Products Partners's revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a $0.545 dividend. This is an increase 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 7.0%. The ex-dividend date of this dividend was Thursday, July 31st. Enterprise Products Partners's dividend payout ratio (DPR) is presently 81.04%.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of research reports. Barclays cut their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Scotiabank cut their price target on Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating on the stock in a report on Friday, September 19th. TD Cowen initiated coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 price target on the stock. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Finally, Morgan Stanley cut their price target on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Enterprise Products Partners presently has an average rating of "Moderate Buy" and a consensus target price 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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