Inlight Wealth Management LLC Decreases Stake in Enterprise Products Partners L.P. $EPD

Inlight Wealth Management LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 23.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,000 shares of the oil and gas producer’s stock after selling 1,256 shares during the period. Inlight Wealth Management LLC’s holdings in Enterprise Products Partners were worth $124,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Belpointe Asset Management LLC increased its position in shares of Enterprise Products Partners by 1.3% during the second quarter. Belpointe Asset Management LLC now owns 51,016 shares of the oil and gas producer’s stock valued at $1,582,000 after acquiring an additional 679 shares during the last quarter. Duncan Williams Asset Management LLC grew its stake in Enterprise Products Partners by 7.4% in the 2nd quarter. Duncan Williams Asset Management LLC now owns 8,814 shares of the oil and gas producer’s stock valued at $273,000 after purchasing an additional 607 shares during the period. Chung Wu Investment Group LLC purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $78,000. Valeo Financial Advisors LLC raised its stake in shares of Enterprise Products Partners by 3.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 96,516 shares of the oil and gas producer’s stock worth $2,993,000 after purchasing an additional 3,052 shares during the period. Finally, DAVENPORT & Co LLC boosted its holdings in shares of Enterprise Products Partners by 1.4% in the 2nd quarter. DAVENPORT & Co LLC now owns 339,492 shares of the oil and gas producer’s stock worth $10,532,000 after buying an additional 4,567 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Up 0.7%

EPD opened at $31.65 on Monday. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63. The company has a market cap 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. 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 company has a 50 day moving average of $31.56 and a 200 day moving average of $31.45.

Enterprise Products Partners (NYSE:EPD) last posted 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 return on equity of 19.81% and a net margin of 10.71%.The company 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 earned $0.64 EPS. The company’s revenue was down 15.7% on a year-over-year basis. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a $0.545 dividend. The ex-dividend date was Thursday, July 31st. This represents a $2.18 annualized dividend 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 is 81.04%.

Insider Transactions at Enterprise Products Partners

In related news, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The shares were 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 approximately $4,971,671.10. This represents a 10.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William C. Montgomery purchased 16,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the acquisition, the director owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. This represents a 13.23% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Stifel Nicolaus decreased 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. 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. Scotiabank decreased their price target 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 report on Saturday, September 27th. Finally, TD Cowen began coverage on Enterprise Products Partners in a research note on Monday, July 7th. They issued a “hold” rating and a $33.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average 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.