Enterprise Products Partners L.P. $EPD Position Increased by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC has increased its stake in Enterprise Products Partners L.P. by 3.5%, acquiring an additional 23,625 shares, bringing its total holdings to 689,675 shares valued at approximately $23.5 million.
• Enterprise Products Partners recently declared a quarterly dividend of $0.545 per share, an increase from the previous dividend, representing an annualized yield of 6.8%.
• Despite a decrease in quarterly revenue of 15.7% year-over-year, Enterprise Products reported earnings of $0.66 per share, slightly missing analyst expectations.

Kestra Advisory Services LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 3.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 689,675 shares of the oil and gas producer's stock after purchasing an additional 23,625 shares during the quarter. Kestra Advisory Services LLC's holdings in Enterprise Products Partners were worth $23,546,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Diversified Trust Co boosted its holdings in shares of Enterprise Products Partners by 13.7% in the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer's stock valued at $516,000 after buying an additional 1,821 shares during the period. Aurora Private Wealth Inc. raised its position in shares of Enterprise Products Partners by 3,044.1% during the 1st quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer's stock worth $6,853,000 after purchasing an additional 194,336 shares during the period. Cyndeo Wealth Partners LLC lifted its holdings in shares of Enterprise Products Partners by 20.0% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer's stock worth $4,553,000 after purchasing an additional 22,202 shares during the last quarter. Forbes J M & Co. LLP acquired a new position in Enterprise Products Partners during the 1st quarter valued at approximately $290,000. Finally, Investor s Fiduciary Advisor Network LLC bought a new position in Enterprise Products Partners during the 4th quarter worth $1,146,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

NYSE:EPD traded up $0.2740 during mid-day trading on Friday, reaching $31.8840. 2,870,647 shares of the stock were exchanged, compared to its average volume of 4,718,594. 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 business has a fifty day moving average price of $31.37 and a 200 day moving average price of $31.80. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. The firm has a market capitalization of $69.04 billion, a PE ratio of 11.85, a PEG ratio of 1.84 and a beta of 0.66.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share 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 for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter last year, the business posted $0.64 EPS. The business's revenue for the quarter was down 15.7% on a year-over-year basis. Research analysts expect 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 announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a dividend of $0.545 per share. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend was Thursday, July 31st. Enterprise Products Partners's dividend payout ratio (DPR) is currently 81.04%.

Wall Street Analyst Weigh In

EPD has been the subject of several recent research reports. Wall Street Zen upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Barclays cut their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the stock an "outperform" rating in a report on Friday, July 11th. Stifel Nicolaus cut their target price on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, July 29th. Finally, Argus raised Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $36.25.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction dated Tuesday, July 29th. The stock was bought at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the acquisition, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William C. Montgomery purchased 16,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the transaction, the director directly owned 136,920 shares of the company's stock, valued at $4,319,826. This trade represents 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.