Wealthcare Advisory Partners LLC Increases Stock Holdings in Enterprise Products Partners L.P. $EPD

Key Points

• Wealthcare Advisory Partners LLC increased its stake in Enterprise Products Partners L.P. by 21% during Q2, owning 92,933 shares valued at approximately $2.88 million.
• A range of analysts have revised price targets for the company's stock, with most setting a target around $35.00 and a consensus rating of "Moderate Buy."
• Enterprise Products Partners reported Q2 earnings per share of $0.66, slightly missing consensus estimates, with revenue significantly down from the previous year.

Wealthcare Advisory Partners LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 21.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,933 shares of the oil and gas producer's stock after purchasing an additional 16,157 shares during the quarter. Wealthcare Advisory Partners LLC's holdings in Enterprise Products Partners were worth $2,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Brooklyn Investment Group acquired a new position in Enterprise Products Partners in the first quarter valued at $27,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the 1st quarter valued at about $28,000. Security National Bank purchased a new position in Enterprise Products Partners during the 1st quarter worth approximately $30,000. Alpine Bank Wealth Management acquired a new position in Enterprise Products Partners during the first quarter worth approximately $31,000. Finally, Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on EPD shares. Weiss Ratings restated a "buy (b)" rating on shares of Enterprise Products Partners in a research report on Saturday, September 27th. Barclays lowered their price objective on shares of 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 dropped their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, July 29th. Scotiabank decreased their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating for the company in a research note on Friday, September 19th. Finally, TD Cowen initiated coverage on Enterprise Products Partners in a report on Monday, July 7th. They set a "hold" rating and a $33.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of "Moderate Buy" and a consensus target price of $35.75.

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 acquired 16,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average cost of $31.55 per share, with a total value of $504,800.00. Following the completion of the purchase, the director directly owned 136,920 shares in the company, valued at $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

Enterprise Products Partners stock opened at $31.52 on Tuesday. The company has a market cap of $68.25 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 2.25 and a beta of 0.64. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The business has a fifty day moving average of $31.57 and a two-hundred day moving average of $31.43. 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 announced its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). The company had revenue of $11.36 billion during the quarter, compared to analysts' expectations of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

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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