HighTower Advisors LLC Buys 17,005 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Key Points

• HighTower Advisors LLC increased its stake in Enterprise Products Partners L.P. by 0.5% during Q1, owning 3,153,875 shares valued at approximately $107.67 million.
• Enterprise Products Partners recently announced a quarterly dividend increase to $0.545 per share, resulting in an annualized yield of 7.0% and a payout ratio of 81.04%.
• Despite missing earnings expectations with $0.66 EPS for the recent quarter, analysts maintain a consensus rating of "Moderate Buy" and project a price target of approximately $36.25.

HighTower Advisors LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,153,875 shares of the oil and gas producer's stock after acquiring an additional 17,005 shares during the period. HighTower Advisors LLC owned approximately 0.15% of Enterprise Products Partners worth $107,673,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Security National Bank bought a new position in shares of Enterprise Products Partners in the 1st quarter worth $30,000. Alpine Bank Wealth Management purchased a new stake in shares of Enterprise Products Partners in the 1st quarter valued at $31,000. Colonial Trust Co SC boosted 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 valued at $32,000 after purchasing an additional 314 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Enterprise Products Partners in the 1st quarter valued at $34,000. Finally, Parvin Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $35,000. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Stock Down 1.2%

NYSE EPD traded down $0.39 during trading hours on Friday, reaching $31.53. 3,731,819 shares of the company's stock traded hands, compared to its average volume of 4,833,580. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.63. The firm has a market cap of $68.27 billion, a PE ratio of 11.72, a PEG ratio of 1.84 and a beta of 0.66. The firm has a 50-day simple moving average of $31.41 and a 200 day simple moving average of $31.88. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.64.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly 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 19.81%. The business had revenue of $11.36 billion for the quarter, compared to analysts' expectations of $15.24 billion. During the same period last year, the business earned $0.64 earnings per share. The company's revenue was down 15.7% on a year-over-year basis. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EPD shares. Scotiabank upped their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research note on Thursday, June 5th. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an "outperform" rating in a research note on Friday, July 11th. Barclays dropped their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. TD Cowen began coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They set a "hold" rating and a $33.00 price target for the company. Finally, Citigroup dropped their price target on shares of 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. 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $36.25.

Insider Transactions at Enterprise Products Partners

In other news, Director John R. Rutherford bought 15,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was acquired at an average cost 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 approximately $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William C. Montgomery bought 16,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was purchased at an average cost of $31.55 per share, with a total value of $504,800.00. Following the completion of the acquisition, the director directly owned 136,920 shares of the company's stock, valued at approximately $4,319,826. The trade was 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.

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.