Legacy Advisory Services LLC Buys Shares of 8,604 Enterprise Products Partners L.P. $EPD

Key Points

• Legacy Advisory Services LLC purchased 8,604 shares of Enterprise Products Partners L.P. for approximately $294,000 in the 1st quarter, reflecting growing institutional interest in the company.
• Enterprise Products Partners recently reported a quarterly earnings miss with an EPS of $0.66, falling short of analysts' expectations, and a revenue decline of 15.7% year-over-year.
• The company announced a dividend increase to $0.545 per share with an annualized yield of 6.9%, demonstrating its commitment to returning value to shareholders.

Legacy Advisory Services LLC purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 8,604 shares of the oil and gas producer's stock, valued at approximately $294,000.

Several other hedge funds also recently modified their holdings of the business. Brooklyn Investment Group acquired a new position in Enterprise Products Partners during the 1st quarter valued at $27,000. Wealth Preservation Advisors LLC bought a new position in shares of Enterprise Products Partners during the 1st quarter worth about $28,000. Security National Bank acquired a new position in shares of Enterprise Products Partners during the first quarter valued at about $30,000. Alpine Bank Wealth Management acquired a new position in shares of Enterprise Products Partners during the first quarter valued at about $31,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Enterprise Products Partners in the first quarter valued at about $34,000. 26.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director William C. Montgomery acquired 16,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were purchased at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the transaction, the director owned 136,920 shares of the company's stock, valued at approximately $4,319,826. This represents a 13.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John R. Rutherford bought 15,000 shares of the stock in a transaction dated Tuesday, July 29th. The stock was 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 directly owned 158,586 shares in the company, valued at approximately $4,971,671.10. This trade represents 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 Price Performance

Shares of Enterprise Products Partners stock traded up $0.28 during trading on Thursday, reaching $31.93. The company's stock had a trading volume of 2,542,577 shares, compared to its average volume of 4,622,163. The stock has a 50-day moving average price of $31.54 and a two-hundred day moving average price of $31.69. The stock has a market capitalization of $69.14 billion, a P/E ratio of 11.87, a price-to-earnings-growth ratio of 1.97 and a beta of 0.69. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63.

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 company had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the previous year, the business posted $0.64 EPS. The company's revenue was down 15.7% compared to the same quarter last year. As a group, sell-side 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 given a $0.545 dividend. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date was Thursday, July 31st. This represents a $2.18 annualized dividend and a yield of 6.8%. Enterprise Products Partners's dividend payout ratio is presently 81.04%.

Analyst Ratings Changes

Several equities analysts recently issued reports on EPD shares. Barclays lowered 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. Stifel Nicolaus lowered their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, July 29th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the company an "outperform" rating in a research note on Friday, July 11th. Morgan Stanley decreased their price target on shares of Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 26th. Finally, TD Cowen began coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.83.

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.