William C. Montgomery Acquires 16,000 Shares of Enterprise Products Partners L.P. (NYSE:EPD) Stock

Key Points

• William C. Montgomery, a director at Enterprise Products Partners L.P., recently purchased 16,000 shares for an average price of $31.55, raising his total ownership to 136,920 shares.
• The company reported $11.36 billion in revenue for the last quarter, falling short of estimates and reflecting a 15.7% year-over-year decline.
• Enterprise Products Partners has announced an increase in its quarterly dividend to $0.545 per share, with an annualized yield of 6.92%.

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) Director William C. Montgomery bought 16,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average price of $31.55 per share, with a total value of $504,800.00. Following the transaction, the director owned 136,920 shares of the company's stock, valued at $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Enterprise Products Partners Trading Up 0.2%

Shares of NYSE:EPD traded up $0.07 on Wednesday, reaching $31.50. 4,915,729 shares of the company traded hands, compared to its average volume of 4,782,254. The business's 50-day simple moving average is $31.41 and its 200 day simple moving average is $32.07. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The stock has a market capitalization of $68.32 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 1.80 and a beta of 0.64. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released 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). The business 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 19.88%. The company's revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. As a group, equities analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be issued a $0.545 dividend. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 dividend on an annualized basis and a yield of 6.92%. The ex-dividend date of this dividend is Thursday, July 31st. Enterprise Products Partners's payout ratio is presently 80.15%.

Wall Street Analysts Forecast Growth

EPD has been the subject of several research reports. Stifel Nicolaus dropped their price target on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday. TD Cowen started coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 target price for the company. Scotiabank increased their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. Barclays dropped 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. Finally, Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the stock an "outperform" rating in a research report on Friday, July 11th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $36.25.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently modified their holdings of EPD. Diversified Trust Co raised its position in shares of Enterprise Products Partners by 13.7% during the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer's stock valued at $516,000 after buying an additional 1,821 shares in the last quarter. Trek Financial LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter valued at $3,405,000. Cerity Partners LLC lifted its stake in Enterprise Products Partners by 18.9% during the 4th quarter. Cerity Partners LLC now owns 470,226 shares of the oil and gas producer's stock valued at $14,661,000 after acquiring an additional 74,710 shares during the period. Fiducient Advisors LLC boosted its holdings in Enterprise Products Partners by 37.3% in the fourth quarter. Fiducient Advisors LLC now owns 77,413 shares of the oil and gas producer's stock valued at $2,428,000 after purchasing an additional 21,025 shares during the last quarter. Finally, OneAscent Financial Services LLC purchased a new stake in Enterprise Products Partners in the fourth quarter valued at $332,000. Institutional investors own 26.07% of the company's stock.

About Enterprise Products Partners

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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