Enterprise Products Partners L.P. (NYSE:EPD) is Hurley Capital LLC's 8th Largest Position

Key Points

• Hurley Capital LLC increased its stake in Enterprise Products Partners L.P. by 10.9%, acquiring an additional 12,623 shares, bringing its total ownership to 128,303 shares valued at approximately $4.38 million.
• Enterprise Products Partners announced a quarterly dividend increase to $0.545 per share, yielding 6.99%, set to be paid on August 14th.
• The company reported Q2 earnings per share of $0.66, missing estimates by one cent, with a revenue decline of 15.7% year-over-year to $11.36 billion.

Hurley Capital LLC increased its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 128,303 shares of the oil and gas producer's stock after acquiring an additional 12,623 shares during the quarter. Enterprise Products Partners comprises 3.3% of Hurley Capital LLC's investment portfolio, making the stock its 8th largest holding. Hurley Capital LLC's holdings in Enterprise Products Partners were worth $4,380,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Colonial Trust Co SC increased its position in shares of 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 valued at $32,000 after buying an additional 314 shares during the period. Strategic Advisors LLC increased its position in shares of Enterprise Products Partners by 3.5% during the first quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer's stock valued at $341,000 after buying an additional 337 shares during the period. Full Sail Capital LLC increased its position in shares of Enterprise Products Partners by 3.9% during the fourth quarter. Full Sail Capital LLC now owns 9,081 shares of the oil and gas producer's stock valued at $285,000 after buying an additional 341 shares during the period. Keystone Wealth Services LLC increased its position in shares of Enterprise Products Partners by 2.6% during the first quarter. Keystone Wealth Services LLC now owns 13,937 shares of the oil and gas producer's stock valued at $476,000 after buying an additional 349 shares during the period. Finally, Duncan Williams Asset Management LLC increased its position in shares of Enterprise Products Partners by 4.5% during the first quarter. Duncan Williams Asset Management LLC now owns 8,207 shares of the oil and gas producer's stock valued at $280,000 after buying an additional 357 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on EPD shares. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Citigroup decreased their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Barclays decreased their price objective on shares of 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, Scotiabank upped their price objective on shares of 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. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.25.

Insider Buying and Selling

In related news, Director William C. Montgomery acquired 16,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average price 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 $4,319,826. This trade represents a 13.23% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John R. Rutherford acquired 15,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were bought at an average cost of $31.35 per share, with a total value of $470,250.00. Following the purchase, the director owned 158,586 shares of the company's stock, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company's stock.

Enterprise Products Partners Price Performance

EPD traded down $0.16 during midday trading on Friday, hitting $30.84. The stock had a trading volume of 2,723,154 shares, compared to its average volume of 4,763,345. The company has a market cap of $66.88 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 1.81 and a beta of 0.64. The business has a fifty day moving average of $31.39 and a 200 day moving average of $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. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $11.36 billion during the quarter, compared to analysts' expectations of $15.24 billion. Enterprise Products Partners had a return on equity of 19.88% and a net margin of 10.71%. The firm's quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.1%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 31st. Enterprise Products Partners's payout ratio is currently 81.04%.

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.