Jackson Hole Capital Partners LLC Has $7.40 Million Stock Holdings in Enterprise Products Partners L.P. $EPD

Key Points

• Jackson Hole Capital Partners LLC increased its stake in Enterprise Products Partners L.P. by 14.9% during the second quarter, bringing its total holdings to $7.40 million.
• Insider activity includes significant purchases by company directors, with John R. Rutherford acquiring 15,000 shares and William C. Montgomery buying 16,000 shares, reflecting confidence in the company's stock.
• The company's recent quarterly earnings revealed a missed consensus estimate with $0.66 earnings per share; revenue decreased by 15.7% year-on-year to $11.36 billion.

Jackson Hole Capital Partners LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 14.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 238,489 shares of the oil and gas producer's stock after purchasing an additional 30,916 shares during the period. Enterprise Products Partners accounts for about 1.4% of Jackson Hole Capital Partners LLC's investment portfolio, making the stock its 13th biggest holding. Jackson Hole Capital Partners LLC's holdings in Enterprise Products Partners were worth $7,396,000 as of its most recent filing with the SEC.

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

Insider Activity

In other news, Director John R. Rutherford purchased 15,000 shares of the business's stock in a transaction dated 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. This trade represents a 10.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director William C. Montgomery bought 16,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the transaction, the director owned 136,920 shares in the company, valued at $4,319,826. This trade represents 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 currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EPD. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an "outperform" rating in a report on Friday, July 11th. TD Cowen assumed coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a "hold" rating and a $33.00 target price for the company. Barclays dropped their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Finally, Scotiabank dropped their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating on the stock in a research report on Friday, September 19th. Two equities research 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.82.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $30.98 on Friday. The stock has a market capitalization of $67.07 billion, a PE ratio of 11.51, a P/E/G ratio of 2.21 and a beta of 0.64. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63. The business has a fifty day moving average price of $31.46 and a two-hundred day moving average price of $31.25.

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). 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 during the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the previous year, the business posted $0.64 EPS. The company's revenue for the quarter was down 15.7% on a year-over-year basis. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners's dividend payout ratio is presently 81.04%.

About Enterprise Products Partners

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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