Penn Davis Mcfarland Inc. Decreases Stock Position in Enterprise Products Partners L.P. $EPD

Penn Davis Mcfarland Inc. lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,188,091 shares of the oil and gas producer’s stock after selling 10,940 shares during the quarter. Enterprise Products Partners comprises approximately 4.1% of Penn Davis Mcfarland Inc.’s investment portfolio, making the stock its 7th biggest holding. Penn Davis Mcfarland Inc. owned approximately 0.05% of Enterprise Products Partners worth $36,843,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Brooklyn Investment Group bought a new position in Enterprise Products Partners during the 1st quarter worth approximately $27,000. Wealth Preservation Advisors LLC bought a new position in Enterprise Products Partners in the first quarter valued at approximately $28,000. Security National Bank bought a new stake in shares of Enterprise Products Partners in the 1st quarter valued at about $30,000. Alpine Bank Wealth Management bought a new stake in Enterprise Products Partners in the 1st quarter valued at $31,000. Finally, N.E.W. Advisory Services LLC bought a new position in Enterprise Products Partners in the 1st quarter valued at about $34,000. Institutional investors own 26.07% of the company’s stock.

Insider Activity at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were bought 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William C. Montgomery purchased 16,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were purchased at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the transaction, the director directly 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 disclosure for this purchase can be found here. 32.60% of the stock is currently owned by corporate insiders.

Enterprise Products Partners Price Performance

EPD opened at $31.70 on Thursday. The firm has a 50-day moving average price of $31.56 and a 200-day moving average price of $31.58. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The company has a market capitalization of $68.65 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.23 and a beta of 0.69.

Enterprise Products Partners (NYSE:EPD) last posted 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 company had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.Enterprise Products Partners’s revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 earnings per share. Equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed 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. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend was Thursday, July 31st. Enterprise Products Partners’s dividend payout ratio is 81.04%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EPD. Barclays lowered 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 report on Wednesday, July 2nd. Stifel Nicolaus reduced 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 report on Tuesday, July 29th. Scotiabank decreased 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 research report on Friday, September 19th. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Finally, TD Cowen initiated coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They set a “hold” rating and a $33.00 price target for the company. Two equities research 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.75.

Enterprise Products Partners 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.