Park Avenue Securities LLC Raises Stake in Enterprise Products Partners L.P. $EPD

Park Avenue Securities LLC raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 8.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,034 shares of the oil and gas producer’s stock after buying an additional 2,798 shares during the quarter. Park Avenue Securities LLC’s holdings in Enterprise Products Partners were worth $1,148,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Alps Advisors Inc. grew its holdings in shares of Enterprise Products Partners by 5.0% during the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock worth $1,410,891,000 after purchasing an additional 1,967,188 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Enterprise Products Partners by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock worth $375,662,000 after purchasing an additional 457,045 shares during the period. Chickasaw Capital Management LLC grew its holdings in shares of Enterprise Products Partners by 1.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock worth $171,022,000 after purchasing an additional 81,135 shares during the period. BROOKFIELD Corp ON grew its holdings in shares of Enterprise Products Partners by 2.8% during the 1st quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock worth $160,416,000 after purchasing an additional 128,545 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Enterprise Products Partners by 65.3% during the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock worth $148,415,000 after purchasing an additional 1,717,768 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford acquired 15,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director owned 158,586 shares in the company, valued at $4,971,671.10. The trade was a 10.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William C. Montgomery acquired 16,000 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the acquisition, the director owned 136,920 shares in the company, valued at approximately $4,319,826. The trade was a 13.23% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EPD shares. Barclays lowered 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. Stifel Nicolaus decreased their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. TD Cowen initiated coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a “hold” rating and a $33.00 target price on the stock. Finally, Morgan Stanley decreased their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.75.

Enterprise Products Partners Price Performance

EPD stock opened at $31.63 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The firm has a market capitalization of $68.49 billion, a P/E ratio of 11.76, a P/E/G ratio of 2.24 and a beta of 0.69. The business’s 50-day moving average is $31.57 and its two-hundred day moving average is $31.55. 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 posted its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period in the prior year, the business earned $0.64 EPS. Enterprise Products Partners’s revenue for the quarter was down 15.7% on a year-over-year basis. Analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date was Thursday, July 31st. 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%.

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.