Asset Planning Services Inc. LA ADV Cuts Stake in Enterprise Products Partners L.P. $EPD

Asset Planning Services Inc. LA ADV reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 128,790 shares of the oil and gas producer’s stock after selling 500 shares during the period. Enterprise Products Partners accounts for 1.8% of Asset Planning Services Inc. LA ADV’s portfolio, making the stock its 22nd biggest position. Asset Planning Services Inc. LA ADV’s holdings in Enterprise Products Partners were worth $3,994,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Strategic Advisors LLC lifted its position in shares of Enterprise Products Partners by 3.5% in the 1st quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer’s stock worth $341,000 after purchasing an additional 337 shares during the period. Per Stirling Capital Management LLC. raised its stake in Enterprise Products Partners by 1.5% in the first quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer’s stock worth $804,000 after buying an additional 339 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in Enterprise Products Partners by 2.1% during the second quarter. Sound Income Strategies LLC now owns 16,796 shares of the oil and gas producer’s stock worth $521,000 after buying an additional 340 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Enterprise Products Partners by 1.8% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,353 shares of the oil and gas producer’s stock valued at $600,000 after acquiring an additional 347 shares in the last quarter. Finally, Keystone Wealth Services LLC increased its holdings in shares of Enterprise Products Partners by 2.6% in the 1st quarter. Keystone Wealth Services LLC now owns 13,937 shares of the oil and gas producer’s stock valued at $476,000 after acquiring an additional 349 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EPD shares. Barclays decreased their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, July 2nd. Morgan Stanley lowered their price target on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. Scotiabank reduced 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 note on Friday, September 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Saturday, September 27th. Finally, Stifel Nicolaus cut their price target 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. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.75.

Insider Activity

In other news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the acquisition, the director owned 158,586 shares of the company’s stock, 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 SEC, which is accessible through this link. Also, Director William C. Montgomery bought 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average cost of $31.55 per share, with a total value of $504,800.00. Following the acquisition, the director directly owned 136,920 shares of the company’s stock, valued at approximately $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 currently owned by insiders.

Enterprise Products Partners Stock Up 0.7%

EPD stock opened at $31.65 on Monday. The stock has a market capitalization of $68.53 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 2.25 and a beta of 0.64. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average of $31.56 and a 200 day moving average of $31.45.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The company had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. Sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were given a dividend of $0.545 per share. 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%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s payout ratio is presently 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.