Northstar Advisory Group LLC Acquires Shares of 30,346 Enterprise Products Partners L.P. $EPD

Key Points

• Northstar Advisory Group LLC acquired 30,346 shares of Enterprise Products Partners L.P. valued at approximately $941,000 during the second quarter.
• Enterprise Products Partners recently announced a quarterly dividend increase to $0.545 per share, reflecting a yield of 6.9%.
• The company reported a net margin of 10.71% and earnings of $0.66 EPS for the last quarter, missing analysts' expectations.

Northstar Advisory Group LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 30,346 shares of the oil and gas producer's stock, valued at approximately $941,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Brooklyn Investment Group acquired a new stake in shares of Enterprise Products Partners in the 1st quarter worth approximately $27,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the 1st quarter worth approximately $28,000. Security National Bank acquired a new stake in Enterprise Products Partners during the 1st quarter valued at $30,000. Alpine Bank Wealth Management acquired a new stake in Enterprise Products Partners during the 1st quarter valued at $31,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Enterprise Products Partners during the 1st quarter valued at $34,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Trading Down 0.6%

Shares of EPD opened at $31.75 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $68.75 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 1.99 and a beta of 0.69. The stock's fifty day simple moving average is $31.56 and its 200 day simple moving average is $31.65. 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 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 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 analysts' expectations of $15.24 billion. During the same period last year, the business earned $0.64 earnings per share. The company's revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities research 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were given a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 6.9%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, July 31st. Enterprise Products Partners's dividend payout ratio is 81.04%.

Wall Street Analyst Weigh In

EPD has been the topic of a number of analyst reports. Barclays lowered their target price on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Stifel Nicolaus reduced their price target on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, July 29th. TD Cowen initiated coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a "hold" rating and a $33.00 price target on the stock. Scotiabank increased their price target on 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. Finally, Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an "outperform" rating in a research note on Friday, July 11th. 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 MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $35.83.

Insider Activity

In related news, Director John R. Rutherford acquired 15,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were bought at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the transaction, the director directly owned 158,586 shares of the company's stock, valued at $4,971,671.10. This trade represents a 10.45% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William C. Montgomery acquired 16,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was bought at an average cost 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 of the company's stock, valued at $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company's stock.

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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