Northside Capital Management LLC Takes $47.63 Million Position in Enterprise Products Partners L.P. $EPD

Key Points

• Northside Capital Management LLC has acquired a new stake of approximately $47.63 million in Enterprise Products Partners, purchasing 1,535,893 shares during the 2nd quarter.
• Corporate insiders have been active in the market as well, with two directors purchasing a combined total of 31,000 shares, reflecting their confidence in the company's future.
• The company recently increased its quarterly dividend to $0.545 per share, resulting in a dividend yield of 6.9%, which signals strong cash flow management amid changing revenue projections.

Northside Capital Management LLC bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,535,893 shares of the oil and gas producer's stock, valued at approximately $47,628,000. Enterprise Products Partners accounts for 3.6% of Northside Capital Management LLC's investment portfolio, making the stock its 5th biggest holding. Northside Capital Management LLC owned approximately 0.07% of Enterprise Products Partners as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brooklyn Investment Group acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $27,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $28,000. Security National Bank acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $30,000. Alpine Bank Wealth Management acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $31,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $34,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery bought 16,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average cost of $31.55 per share, with a total value of $504,800.00. Following the purchase, the director directly owned 136,920 shares in the company, valued at approximately $4,319,826. This represents a 13.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John R. Rutherford bought 15,000 shares of the business's 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 completion of the purchase, the director owned 158,586 shares in the company, valued at $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company's stock.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of recent research reports. Scotiabank lowered their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating on the stock in a research report on Friday, September 19th. TD Cowen initiated coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They set a "hold" rating and a $33.00 price target on the stock. Morgan Stanley lowered 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 report on Tuesday, August 26th. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the stock an "outperform" rating in a research report on Friday, July 11th. Finally, 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 research report on Wednesday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $35.75.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $31.47 on Wednesday. The firm's 50 day moving average price is $31.55 and its 200-day moving average price is $31.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The firm has a market cap of $68.13 billion, a P/E ratio of 11.70, a P/E/G ratio of 2.23 and a beta of 0.69.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued 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 19.81% and a net margin of 10.71%.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 prior year, the company posted $0.64 earnings per share. The business's revenue was down 15.7% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a $0.545 dividend. The ex-dividend date was Thursday, July 31st. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio (DPR) is currently 81.04%.

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.

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