Moors & Cabot Inc. Has $14.43 Million Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Key Points

• Moors & Cabot Inc. increased its stake in Enterprise Products Partners L.P. by 3.5% in the first quarter, holding a total of 422,673 shares valued at approximately $14.43 million.
• Enterprise Products Partners reported a quarterly EPS of $0.66, slightly missing estimates, with revenue down 15.7% year-over-year at $11.36 billion.
• The company announced a dividend increase to $0.545 per share, representing an annual yield of 7.0% and a payout ratio of 81.04%.

Moors & Cabot Inc. increased its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 422,673 shares of the oil and gas producer's stock after acquiring an additional 14,172 shares during the period. Enterprise Products Partners makes up approximately 0.7% of Moors & Cabot Inc.'s investment portfolio, making the stock its 25th biggest position. Moors & Cabot Inc.'s holdings in Enterprise Products Partners were worth $14,430,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Security National Bank acquired a new stake in Enterprise Products Partners during the first 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. National Bank of Canada FI boosted its stake in Enterprise Products Partners by 55.4% in 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 boosted its stake in Enterprise Products Partners by 44.9% in 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, N.E.W. Advisory Services LLC acquired a new position in Enterprise Products Partners in the 1st quarter worth approximately $34,000. 26.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director John R. Rutherford bought 15,000 shares of the stock in a transaction that occurred 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 owned 158,586 shares of the company's stock, valued at $4,971,671.10. This represents a 10.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William C. Montgomery bought 16,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the purchase, the director directly owned 136,920 shares in the company, valued at $4,319,826. The trade was a 13.23% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company's stock.

Enterprise Products Partners Stock Down 0.8%

Shares of EPD traded down $0.24 during mid-day trading on Friday, hitting $30.75. 4,221,882 shares of the company's stock were exchanged, compared to its average volume of 4,092,727. The firm has a fifty day moving average of $31.38 and a two-hundred day moving average of $32.04. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The stock has a market cap of $66.69 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 1.79 and a beta of 0.66. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98.

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 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 business had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter last year, the company earned $0.64 EPS. The business's revenue for the quarter was down 15.7% compared to the same quarter last year. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a dividend of $0.545 per share. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 31st. This represents a $2.18 annualized dividend and a dividend yield of 7.1%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 81.04%.

Wall Street Analyst Weigh In

A number of research firms recently commented on EPD. Scotiabank raised their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 5th. Barclays decreased 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 note on Wednesday, July 2nd. Stifel Nicolaus decreased 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 note on Tuesday. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the stock an "outperform" rating in a research note on Friday, July 11th. Finally, Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.25.

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.