590,640 Shares in Enterprise Products Partners L.P. $EPD Purchased by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC acquired 590,640 shares of Enterprise Products Partners L.P. valued at approximately $18.3 million, marking its new stake in the company.
• Several hedge funds, including Alps Advisors and JPMorgan Chase & Co., have also increased their stakes in Enterprise Products Partners during the recent quarters, indicating growing institutional interest.
• Enterprise Products Partners recently increased its quarterly dividend to $0.545 per share, up from $0.54, which reflects a strong annualized yield of 6.9%.

Kingstone Capital Partners Texas LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 590,640 shares of the oil and gas producer's stock, valued at approximately $18,316,000.

Several other large investors also recently bought and sold shares of EPD. Brooklyn Investment Group purchased a new stake in shares of Enterprise Products Partners in the 1st quarter valued at approximately $27,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Enterprise Products Partners in the 1st quarter valued at approximately $28,000. Security National Bank purchased a new stake in shares of Enterprise Products Partners in the 1st quarter valued at approximately $30,000. Alpine Bank Wealth Management purchased a new stake in shares of Enterprise Products Partners in the 1st quarter valued at approximately $31,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Enterprise Products Partners in the 1st quarter valued at approximately $34,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

NYSE:EPD traded up $0.14 during trading hours on Tuesday, hitting $31.51. The company's stock had a trading volume of 2,439,494 shares, compared to its average volume of 4,590,727. The stock has a fifty day simple moving average of $31.55 and a 200-day simple moving average of $31.58. The company has a market capitalization of $68.22 billion, a P/E ratio of 11.72, a PEG ratio of 2.25 and a beta of 0.69. 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 twelve month low of $27.77 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). The firm had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date was Thursday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio is presently 81.04%.

Insiders Place Their Bets

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were acquired at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the purchase, the director directly owned 158,586 shares of the company's stock, valued at $4,971,671.10. The trade was a 10.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William C. Montgomery acquired 16,000 shares of Enterprise Products Partners stock in a transaction dated Wednesday, July 30th. The shares were purchased 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 directly owned 136,920 shares in the company, valued at approximately $4,319,826. The trade was a 13.23% increase in their position. The disclosure for this purchase can be found here. Insiders own 32.60% of the company's stock.

Analysts Set New Price Targets

EPD has been the topic of a number of analyst reports. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Stifel Nicolaus dropped their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, July 29th. TD Cowen initiated coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They issued a "hold" rating and a $33.00 price target on the stock. Scotiabank reduced their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating for the company in a research report on Friday. Finally, Barclays reduced their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of "Moderate Buy" and an average target price of $35.75.

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.