Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by LPL Financial LLC

Key Points

• LPL Financial LLC increased its holdings in Enterprise Products Partners L.P. by 3.6%, acquiring a total of $117.62 million worth of shares in the first quarter.
• Enterprise Products Partners recently announced a quarterly dividend of $0.545 per share, reflecting a 6.95% dividend yield and marking an increase from the previous quarter.
• Several research firms have updated their ratings on Enterprise Products Partners, with a consensus rating of "Moderate Buy" and a target price of $36.25 per share.

LPL Financial LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,445,293 shares of the oil and gas producer's stock after acquiring an additional 119,069 shares during the quarter. LPL Financial LLC owned about 0.16% of Enterprise Products Partners worth $117,622,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EPD. Security National Bank purchased a new position in Enterprise Products Partners during the 1st quarter valued at $30,000. Alpine Bank Wealth Management bought a new position in Enterprise Products Partners in the first quarter worth approximately $31,000. National Bank of Canada FI increased its holdings in Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 360 shares during the period. Colonial Trust Co SC increased its holdings in Enterprise Products Partners by 44.9% during the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 314 shares during the period. Finally, North Capital Inc. bought a new stake in Enterprise Products Partners during the 1st quarter valued at $38,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EPD has been the subject of several research reports. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an "outperform" rating in a report on Friday, July 11th. Citigroup dropped their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Scotiabank boosted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. Barclays lowered their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Finally, Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $36.25.

Enterprise Products Partners Stock Performance

EPD traded up $0.07 on Wednesday, reaching $31.50. 4,915,729 shares of the stock were exchanged, compared to its average volume of 3,898,352. The firm has a market capitalization of $68.32 billion, a PE ratio of 11.71, a PEG ratio of 1.82 and a beta of 0.64. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The company's 50-day moving average price is $31.40 and its 200 day moving average price is $32.07. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.88% and a net margin of 10.71%. The company had revenue of $11.36 billion during the quarter, compared to analysts' expectations of $15.24 billion. During the same quarter in the prior year, the company posted $0.64 EPS. The company's revenue for the quarter was down 15.7% on a year-over-year basis. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 6.92%. The ex-dividend date of this dividend is Thursday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's payout ratio is presently 80.15%.

Insider Activity

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 acquired at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the transaction, the director directly owned 158,586 shares of the company's stock, valued at approximately $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William C. Montgomery purchased 16,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the purchase, 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 position. The disclosure for this purchase can be found here. 32.60% of the stock is owned by corporate insiders.

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.