Integrity Alliance LLC. Buys New Shares in Enterprise Products Partners L.P. $EPD

Key Points

• Integrity Alliance LLC purchased 110,721 shares of Enterprise Products Partners L.P. for approximately $3.78 million, marking a new investment in the oil and gas sector.
• Enterprise Products reported Q2 earnings per share of $0.66, slightly below the consensus estimate, along with a 15.7% year-over-year revenue decline.
• The company announced a dividend increase to $0.545 per share, reflecting an annualized dividend yield of 6.9%, demonstrating ongoing commitment to shareholder returns.

Integrity Alliance LLC. bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 110,721 shares of the oil and gas producer's stock, valued at approximately $3,780,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $27,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $28,000. Security National Bank acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $30,000. Alpine Bank Wealth Management acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $31,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $34,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Trading Up 0.3%

Shares of EPD stock opened at $31.55 on Wednesday. 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 market cap of $68.31 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 1.97 and a beta of 0.69. The stock has a 50 day simple moving average of $31.54 and a 200 day simple moving average of $31.69. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63.

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 the consensus estimate of $0.67 by ($0.01). The company had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company's quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share. On average, research analysts predict 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 declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date was Thursday, July 31st. Enterprise Products Partners's dividend payout ratio is presently 81.04%.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was purchased at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the purchase, the director directly 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William C. Montgomery bought 16,000 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were acquired 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 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 ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EPD. TD Cowen began coverage on Enterprise Products Partners in a research report on Monday, July 7th. They set a "hold" rating and a $33.00 price target on the stock. Morgan Stanley lowered their price target 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. Citigroup lowered 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. Scotiabank boosted their price target on 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. Finally, Stifel Nicolaus reduced their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Two 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 company's stock. According to data from MarketBeat.com, Enterprise Products Partners has a consensus rating of "Moderate Buy" and a consensus price target of $35.83.

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.

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