Seven Post Investment Office LP Invests $9.37 Million in Enterprise Products Partners L.P. $EPD

Key Points

• Seven Post Investment Office LP has acquired a new position in Enterprise Products Partners L.P. with an investment of approximately $9.37 million during the 2nd quarter, making it the firm's 8th largest holding.
• Enterprise Products Partners reported a quarterly earnings miss with earnings per share of $0.66, slightly below the consensus estimate of $0.67, and a revenue decline of 15.7% year-over-year.
• The company announced an increase in its quarterly dividend to $0.545 per share, resulting in a dividend yield of 6.9% for shareholders.

Seven Post Investment Office LP bought a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 302,130 shares of the oil and gas producer's stock, valued at approximately $9,369,000. Enterprise Products Partners makes up approximately 3.5% of Seven Post Investment Office LP's investment portfolio, making the stock its 8th biggest holding.

Several other large investors have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of Enterprise Products Partners in the first quarter worth $27,000. Wealth Preservation Advisors LLC purchased a new position in Enterprise Products Partners during the first quarter worth about $28,000. Security National Bank bought a new position in Enterprise Products Partners in the 1st quarter worth about $30,000. Alpine Bank Wealth Management purchased a new stake in shares of Enterprise Products Partners in the 1st quarter valued at about $31,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Enterprise Products Partners in the 1st quarter valued at about $34,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $31.47 on Wednesday. The company has a 50 day simple moving average of $31.55 and a two-hundred day simple moving average of $31.58. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63. The company has a market capitalization of $68.13 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 2.23 and a beta of 0.69. 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 (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 company had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. Enterprise Products Partners's revenue was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 earnings per share. Analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were paid 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 dividend yield of 6.9%. The ex-dividend date was Thursday, July 31st. Enterprise Products Partners's payout ratio is currently 81.04%.

Insider Buying and Selling

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of the business's stock in a transaction 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 in the company, valued at approximately $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 bought 16,000 shares of Enterprise Products Partners stock in a transaction on Wednesday, July 30th. The stock was acquired at an average cost of $31.55 per share, with a total value of $504,800.00. Following the acquisition, the director owned 136,920 shares in the company, valued at approximately $4,319,826. This represents 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.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on EPD shares. TD Cowen began coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They issued a "hold" rating and a $33.00 price objective on the stock. Barclays cut their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. Stifel Nicolaus cut their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Morgan Stanley decreased their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 26th. Finally, Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the stock an "outperform" rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $35.75.

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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