WCG Wealth Advisors LLC Boosts Stake in Enterprise Products Partners L.P. $EPD

Key Points

• WCG Wealth Advisors LLC significantly increased its stake in Enterprise Products Partners by 99.9%, acquiring an additional 33,562 shares, bringing its total holdings to 67,168 shares valued at approximately $2.3 million.
• The company recently increased its quarterly dividend to $0.545 per share, representing a 6.9% yield, and a total annualized dividend of $2.18.
• Despite a 0.6% drop in stock value, Enterprise Products posted $0.66 earnings per share, falling short of analyst estimates, with revenue down 15.7% year-over-year.

WCG Wealth Advisors LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 99.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,168 shares of the oil and gas producer's stock after acquiring an additional 33,562 shares during the quarter. WCG Wealth Advisors LLC's holdings in Enterprise Products Partners were worth $2,293,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Apexium Financial LP raised its position in shares of Enterprise Products Partners by 21.1% during the 1st quarter. Apexium Financial LP now owns 9,386 shares of the oil and gas producer's stock worth $320,000 after purchasing an additional 1,636 shares during the last quarter. Oliver Luxxe Assets LLC raised its position in shares of Enterprise Products Partners by 1.5% during the 1st quarter. Oliver Luxxe Assets LLC now owns 328,725 shares of the oil and gas producer's stock worth $11,223,000 after purchasing an additional 4,948 shares during the last quarter. Jump Financial LLC raised its position in shares of Enterprise Products Partners by 74.3% during the 1st quarter. Jump Financial LLC now owns 303,200 shares of the oil and gas producer's stock worth $10,351,000 after purchasing an additional 129,249 shares during the last quarter. Cadence Bank raised its position in shares of Enterprise Products Partners by 3.1% during the 1st quarter. Cadence Bank now owns 58,783 shares of the oil and gas producer's stock worth $2,007,000 after purchasing an additional 1,746 shares during the last quarter. Finally, JRM Investment Counsel LLC raised its position in shares of Enterprise Products Partners by 2.3% during the 1st quarter. JRM Investment Counsel LLC now owns 477,983 shares of the oil and gas producer's stock worth $16,318,000 after purchasing an additional 10,804 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Stock Down 0.6%

Enterprise Products Partners stock opened at $31.70 on Tuesday. 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 debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The firm has a 50 day moving average price of $31.37 and a 200 day moving average price of $31.79. The company has a market capitalization of $68.64 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.84 and a beta of 0.66.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its 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). 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 analyst estimates of $15.24 billion. During the same quarter last year, the business posted $0.64 EPS. The firm's revenue for the quarter was down 15.7% on a year-over-year basis. Research analysts expect 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 announced a quarterly dividend, which was paid on Thursday, August 14th. Investors 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. The ex-dividend date was Thursday, July 31st. This represents a $2.18 annualized dividend and a yield of 6.9%. Enterprise Products Partners's payout ratio is 81.04%.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery purchased 16,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was bought at an average price of $31.55 per share, with a total value of $504,800.00. Following the transaction, the director directly owned 136,920 shares of the company's stock, valued at approximately $4,319,826. This represents a 13.23% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John R. Rutherford purchased 15,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was acquired at an average cost of $31.35 per share, with a total value of $470,250.00. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company's stock.

Analyst Upgrades and Downgrades

EPD has been the subject of a number of recent research reports. Barclays cut their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday, July 2nd. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Stifel Nicolaus cut their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Argus upgraded shares of Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Finally, Citigroup cut their price objective on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. 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 company. According to data from MarketBeat, Enterprise Products Partners has an average rating of "Moderate Buy" and a consensus price target of $36.25.

Enterprise Products Partners 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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