30,071 Shares in Enterprise Products Partners L.P. $EPD Bought by Harrell Investment Partners LLC

Harrell Investment Partners LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 30,071 shares of the oil and gas producer’s stock, valued at approximately $933,000.

Several other hedge funds also recently bought and sold shares of the company. Seven Post Investment Office LP bought a new position in Enterprise Products Partners in the 2nd quarter worth $9,369,000. Foster Victor Wealth Advisors LLC bought a new position in shares of Enterprise Products Partners during the 2nd quarter valued at about $207,000. Northside Capital Management LLC bought a new position in shares of Enterprise Products Partners during the 2nd quarter valued at about $47,628,000. AM Investment Strategies LLC boosted its holdings in shares of Enterprise Products Partners by 3.0% during 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. Finally, MCF Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 6.4% during 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. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.8%

Shares of NYSE EPD opened at $31.70 on Thursday. The firm’s 50-day moving average price is $31.56 and its 200-day moving average price is $31.58. 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 stock has a market capitalization of $68.65 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 2.23 and a beta of 0.69. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, equities research 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 was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a $0.545 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. Enterprise Products Partners’s dividend payout ratio is currently 81.04%.

Insider Transactions at Enterprise Products Partners

In other news, Director William C. Montgomery acquired 16,000 shares of Enterprise Products Partners stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average cost of $31.55 per share, with a total value of $504,800.00. Following the transaction, the director directly owned 136,920 shares of the company’s stock, valued at $4,319,826. This trade represents a 13.23% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director John R. Rutherford acquired 15,000 shares of Enterprise Products Partners stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average cost 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. This trade represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Scotiabank dropped their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, September 19th. Stifel Nicolaus dropped their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, July 29th. TD Cowen assumed coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They set a “hold” rating and a $33.00 price objective for the company. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an “outperform” rating in a report on Friday, July 11th. Finally, Morgan Stanley decreased their target price 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. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.75.

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.