1,535,893 Shares in Enterprise Products Partners L.P. $EPD Acquired by Northside Capital Management LLC

Northside Capital Management LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,535,893 shares of the oil and gas producer’s stock, valued at approximately $47,628,000. Enterprise Products Partners accounts for about 3.6% of Northside Capital Management LLC’s holdings, making the stock its 5th largest position.

A number of other large investors also recently modified their holdings of the company. AM Investment Strategies LLC increased its position in shares of Enterprise Products Partners by 3.0% in the 2nd quarter. AM Investment Strategies LLC now owns 119,090 shares of the oil and gas producer’s stock valued at $3,692,000 after purchasing an additional 3,486 shares during the last quarter. MCF Advisors LLC increased its position in shares of Enterprise Products Partners by 6.4% in the 2nd quarter. MCF Advisors LLC now owns 10,969 shares of the oil and gas producer’s stock valued at $340,000 after purchasing an additional 661 shares during the last quarter. Eaton Financial Holdings Company LLC increased its position in shares of Enterprise Products Partners by 3.6% in the 2nd quarter. Eaton Financial Holdings Company LLC now owns 39,201 shares of the oil and gas producer’s stock valued at $1,216,000 after purchasing an additional 1,359 shares during the last quarter. Bank of Stockton increased its position in shares of Enterprise Products Partners by 15.3% in the 2nd quarter. Bank of Stockton now owns 12,887 shares of the oil and gas producer’s stock valued at $400,000 after purchasing an additional 1,706 shares during the last quarter. Finally, Bfsg LLC increased its position in shares of Enterprise Products Partners by 0.7% in the 2nd quarter. Bfsg LLC now owns 176,208 shares of the oil and gas producer’s stock valued at $5,464,000 after purchasing an additional 1,227 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the purchase, the director directly owned 158,586 shares in the company, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William C. Montgomery purchased 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average price of $31.55 per share, with a total value of $504,800.00. Following the purchase, the director owned 136,920 shares in the company, 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 corporate insiders.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Stifel Nicolaus dropped their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, July 29th. Barclays dropped their target price 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. Finally, Scotiabank dropped their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.75.

Enterprise Products Partners Stock Up 0.3%

Shares of NYSE:EPD opened at $31.47 on Wednesday. The stock has a market cap of $68.13 billion, a P/E ratio of 11.70, a P/E/G ratio of 2.23 and a beta of 0.69. The firm has a fifty day moving average price of $31.55 and a 200 day moving average price of $31.58. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share 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 analyst estimates of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a dividend of $0.545 per share. The ex-dividend date was Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.04%.

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.