Wealth Enhancement Advisory Services LLC Acquires 47,829 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Enterprise Products Partners by 4.3%, owning approximately 1.16 million shares valued at $36.67 million as of the latest SEC filing.
• Insider trading activity included Director John R. Rutherford and Director William C. Montgomery both increasing their positions by over 10% through significant share purchases.
• Enterprise Products Partners recently announced a quarterly dividend increase to $0.545, offering a yield of 6.9%, while also reporting a 15.7% revenue decline compared to the previous year.

Wealth Enhancement Advisory Services LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 4.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,163,897 shares of the oil and gas producer's stock after acquiring an additional 47,829 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.05% of Enterprise Products Partners worth $36,674,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in Enterprise Products Partners in the 1st quarter valued at $27,000. Wealth Preservation Advisors LLC bought a new stake in Enterprise Products Partners in the 1st quarter valued at $28,000. Security National Bank bought a new position in Enterprise Products Partners during the 1st quarter worth $30,000. Alpine Bank Wealth Management acquired a new stake in shares of Enterprise Products Partners during the first quarter worth $31,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Enterprise Products Partners in the first quarter valued at about $34,000. Institutional investors own 26.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley decreased their price target on shares of Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 26th. TD Cowen assumed coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They issued a "hold" rating and a $33.00 price target on the stock. Barclays decreased their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Scotiabank decreased their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating on the stock in a research note on Friday. Finally, Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the company an "outperform" rating in a research note on Friday, July 11th. Two 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 stock has an average rating of "Moderate Buy" and a consensus price target of $35.75.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock traded up $0.02 during midday trading on Tuesday, reaching $31.39. The company's stock had a trading volume of 770,128 shares, compared to its average volume of 4,581,108. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. 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 business has a 50-day moving average price of $31.55 and a 200-day moving average price of $31.58. The stock has a market cap of $67.96 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 2.25 and a beta of 0.69.

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 analysts' consensus estimates 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 firm had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The business's revenue for the quarter was down 15.7% compared to the same quarter last year. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

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

Insider Buying and Selling

In related news, Director John R. Rutherford acquired 15,000 shares of the business's stock in a transaction that occurred 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 purchase, the director directly owned 158,586 shares in the company, 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 document filed with the SEC, which is available at this link. Also, Director William C. Montgomery acquired 16,000 shares of the business's stock in a transaction that occurred 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 purchase, the director 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. 32.60% of the stock is owned by insiders.

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.