Rollins Financial Advisors LLC Increases Holdings in Enterprise Products Partners L.P. $EPD

Key Points

• Rollins Financial Advisors LLC increased its holdings in Enterprise Products Partners L.P. by 6.9%, acquiring an additional 9,471 shares, bringing their total to 146,381 shares.
• During the first quarter, several institutional investors, including Brooklyn Investment Group and Wealth Preservation Advisors LLC, also bought new stakes in Enterprise Products Partners, reflecting a growing interest in the company.
• The firm announced an increase in its quarterly dividend to $0.545 per share, which represents an annualized yield of 6.9%, highlighting its commitment to returning value to shareholders despite a reported earnings miss.

Rollins Financial Advisors LLC grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 6.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,381 shares of the oil and gas producer's stock after purchasing an additional 9,471 shares during the period. Enterprise Products Partners comprises approximately 0.9% of Rollins Financial Advisors LLC's holdings, making the stock its 24th largest holding. Rollins Financial Advisors LLC's holdings in Enterprise Products Partners were worth $4,997,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Strategic Advisors LLC increased its stake in Enterprise Products Partners by 3.5% in the first quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer's stock worth $341,000 after purchasing an additional 337 shares during the period. Per Stirling Capital Management LLC. increased its stake in Enterprise Products Partners by 1.5% in the first quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer's stock worth $804,000 after purchasing an additional 339 shares during the period. Keystone Wealth Services LLC increased its stake in Enterprise Products Partners by 2.6% in the first quarter. Keystone Wealth Services LLC now owns 13,937 shares of the oil and gas producer's stock worth $476,000 after purchasing an additional 349 shares during the period. Duncan Williams Asset Management LLC increased its stake in Enterprise Products Partners by 4.5% in the first quarter. Duncan Williams Asset Management LLC now owns 8,207 shares of the oil and gas producer's stock worth $280,000 after purchasing an additional 357 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Enterprise Products Partners by 1.2% during the 1st quarter. Russell Investments Group Ltd. now owns 32,403 shares of the oil and gas producer's stock worth $1,106,000 after buying an additional 372 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

Insider Activity

In other news, Director John R. Rutherford acquired 15,000 shares of Enterprise Products Partners stock in a transaction dated Tuesday, July 29th. The stock was purchased 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 directly owned 158,586 shares in the company, valued at $4,971,671.10. This trade represents a 10.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William C. Montgomery acquired 16,000 shares of Enterprise Products Partners stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average price of $31.55 per share, with a total value 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. The trade was 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.

Analyst Ratings Changes

EPD has been the topic of a number of recent research reports. Barclays dropped their price target on 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. Morgan Stanley dropped their price target on 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. 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 report on Thursday, June 5th. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the company an "outperform" rating in a research report on Friday, July 11th. Finally, TD Cowen assumed coverage on Enterprise Products Partners in a research report on Monday, July 7th. They set a "hold" rating and a $33.00 price objective 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 company has a consensus rating of "Moderate Buy" and an average target price of $35.83.

Enterprise Products Partners Stock Down 0.6%

NYSE EPD traded down $0.18 during trading on Friday, hitting $31.75. The company's stock had a trading volume of 3,358,988 shares, compared to its average volume of 3,154,401. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The company has a market cap of $68.75 billion, a PE ratio of 11.80, a P/E/G ratio of 2.00 and a beta of 0.69. The business's 50 day simple moving average is $31.56 and its 200-day simple moving average is $31.66. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.Enterprise Products Partners's revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were issued a $0.545 dividend. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend was Thursday, July 31st. Enterprise Products Partners's dividend payout ratio is 81.04%.

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.