Atlas Brown Inc. Purchases 716 Shares of Enterprise Products Partners L.P. $EPD

Atlas Brown Inc. lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 6.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 11,703 shares of the oil and gas producer’s stock after buying an additional 716 shares during the quarter. Atlas Brown Inc.’s holdings in Enterprise Products Partners were worth $363,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Diversified Trust Co raised its holdings in shares of Enterprise Products Partners by 13.7% in the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock worth $516,000 after buying an additional 1,821 shares in the last quarter. Aurora Private Wealth Inc. raised its holdings in shares of Enterprise Products Partners by 3,044.1% in the 1st quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer’s stock worth $6,853,000 after buying an additional 194,336 shares in the last quarter. Cyndeo Wealth Partners LLC raised its holdings in shares of Enterprise Products Partners by 20.0% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer’s stock worth $4,553,000 after buying an additional 22,202 shares in the last quarter. Forbes J M & Co. LLP acquired a new position in shares of Enterprise Products Partners in the 1st quarter worth approximately $290,000. Finally, Corigliano Investment Advisers LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter worth approximately $4,384,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director William C. Montgomery acquired 16,000 shares of the firm’s stock in a transaction on 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 transaction, the director owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. This represents a 13.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction dated Tuesday, July 29th. The stock was bought at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. 32.60% of the stock is currently owned by company insiders.

Enterprise Products Partners Stock Down 0.6%

Shares of EPD opened at $31.75 on Monday. The firm has a market capitalization of $68.75 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.99 and a beta of 0.69. 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 business’s fifty day moving average price is $31.56 and its two-hundred day moving average price is $31.65. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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 firm had revenue of $11.36 billion during 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 19.81%. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

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

Analysts Set New Price Targets

EPD has been the subject of a number of recent research reports. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Scotiabank raised their price target 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 price target on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. 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 for the company. Finally, 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, July 29th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.83.

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.