Sonora Investment Management Group LLC Lowers Stock Holdings in Enterprise Products Partners L.P. $EPD

Key Points

• Sonora Investment Management Group LLC has reduced its stake in Enterprise Products Partners L.P. (EPD) by 15.7%, now holding 61,818 shares worth approximately $1.92 million after selling 11,549 shares in the second quarter.
• Insider purchases include Director John R. Rutherford buying 15,000 shares at an average price of $31.35, increasing his ownership by 10.45%, while Director William C. Montgomery acquired 16,000 shares at $31.55, raising his stake by 13.23%.
• Enterprise Products Partners has announced a dividend increase to $0.545 per share, representing a 6.9% yield, following a quarterly earnings report that revealed a net margin decline of 15.7% year-on-year.

Sonora Investment Management Group LLC reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 15.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,818 shares of the oil and gas producer's stock after selling 11,549 shares during the period. Sonora Investment Management Group LLC's holdings in Enterprise Products Partners were worth $1,917,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Advisors LLC lifted its holdings in Enterprise Products Partners by 3.5% during the 1st quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer's stock worth $341,000 after buying an additional 337 shares during the last quarter. Per Stirling Capital Management LLC. lifted its holdings in Enterprise Products Partners by 1.5% during the 1st quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer's stock worth $804,000 after buying an additional 339 shares during the last quarter. Keystone Wealth Services LLC lifted its holdings in Enterprise Products Partners by 2.6% during the 1st quarter. Keystone Wealth Services LLC now owns 13,937 shares of the oil and gas producer's stock worth $476,000 after buying an additional 349 shares during the last quarter. Duncan Williams Asset Management LLC increased its position in shares of Enterprise Products Partners by 4.5% during 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 in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Enterprise Products Partners by 1.2% during the first quarter. Russell Investments Group Ltd. now owns 32,403 shares of the oil and gas producer's stock worth $1,106,000 after purchasing an additional 372 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Enterprise Products Partners

In other news, Director John R. Rutherford purchased 15,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average price of $31.35 per share, with a total value of $470,250.00. Following the purchase, the director directly owned 158,586 shares of the company's stock, valued at $4,971,671.10. The trade was a 10.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William C. Montgomery purchased 16,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average cost of $31.55 per share, for a total transaction 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 disclosure for this purchase can be found here. 32.60% of the stock is owned by insiders.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $31.63 on Friday. The business's 50 day simple moving average is $31.57 and its 200-day simple moving average is $31.55. The firm has a market capitalization of $68.49 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 2.25 and a beta of 0.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63.

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). The firm had revenue of $11.36 billion for the quarter, compared to analysts' expectations 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 last year, the firm earned $0.64 EPS. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were 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 of this dividend was Thursday, July 31st. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. Enterprise Products Partners's dividend payout ratio is presently 81.04%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Scotiabank cut their target price on 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. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an "outperform" rating in a research report on Friday, July 11th. Barclays cut their target price 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. Stifel Nicolaus cut their target price on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, July 29th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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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