IFG Advisory LLC Boosts Position in Enterprise Products Partners L.P. (NYSE:EPD)

Key Points

• IFG Advisory LLC increased its stake in Enterprise Products Partners L.P. by 30.3% during Q1, owning a total of 97,534 shares valued at approximately $3.33 million.
• Directors William C. Montgomery and John R. Rutherford made significant stock purchases, increasing their ownership by 13.23% and 10.45% respectively.
• Enterprise Products Partners recently announced a dividend increase to $0.545 per share, representing a yield of 7.1% with a payout ratio of 81.04%.

IFG Advisory LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 30.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 97,534 shares of the oil and gas producer's stock after acquiring an additional 22,680 shares during the quarter. IFG Advisory LLC's holdings in Enterprise Products Partners were worth $3,330,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EPD. Security National Bank purchased a new stake in Enterprise Products Partners during the first quarter valued at $30,000. Alpine Bank Wealth Management bought a new stake in Enterprise Products Partners during the first quarter valued at about $31,000. National Bank of Canada FI grew its holdings in Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 360 shares during the period. Colonial Trust Co SC grew its holdings in 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 purchasing an additional 314 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new stake in Enterprise Products Partners during the first quarter valued at about $34,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

Insider Buying and Selling

In other news, Director William C. Montgomery purchased 16,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost 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 approximately $4,319,826. This represents a 13.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John R. Rutherford purchased 15,000 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the purchase, the director owned 158,586 shares of the company's stock, valued at $4,971,671.10. The trade was 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 corporate insiders.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $30.75 on Friday. The firm has a market cap of $66.69 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 1.77 and a beta of 0.66. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. The business has a 50-day moving average price of $31.38 and a 200-day moving average price of $32.03. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly 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 firm had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the company posted $0.64 earnings per share. Enterprise Products Partners's quarterly revenue was down 15.7% on a year-over-year basis. As a group, equities research analysts predict 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 declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a dividend of $0.545 per share. The ex-dividend date of this dividend is 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 yield of 7.1%. Enterprise Products Partners's dividend payout ratio is currently 81.04%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Barclays cut their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday, July 2nd. Scotiabank boosted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. 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. Argus raised Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Finally, Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Five 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 stock. According to data from MarketBeat, Enterprise Products Partners has an average rating of "Moderate Buy" and an average target price of $36.25.

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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