Almanack Investment Partners LLC. Has $1.40 Million Stake in Enterprise Products Partners L.P. $EPD

Almanack Investment Partners LLC. raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 82.8% in the second quarter, Holdings Channel.com reports. The firm owned 45,164 shares of the oil and gas producer’s stock after buying an additional 20,463 shares during the period. Almanack Investment Partners LLC.’s holdings in Enterprise Products Partners were worth $1,401,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in EPD. Brighton Jones LLC boosted its stake in Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after purchasing an additional 5,425 shares during the last quarter. GAMMA Investing LLC boosted its stake in Enterprise Products Partners by 3,314.0% during the 1st quarter. GAMMA Investing LLC now owns 17,070 shares of the oil and gas producer’s stock valued at $583,000 after purchasing an additional 16,570 shares during the last quarter. SG Americas Securities LLC acquired a new position in Enterprise Products Partners during the 1st quarter valued at about $954,000. CX Institutional bought a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $56,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Enterprise Products Partners by 4.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,116,068 shares of the oil and gas producer’s stock worth $38,103,000 after buying an additional 47,784 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insider Buying and Selling

In other Enterprise Products Partners news, Director William C. Montgomery acquired 16,000 shares of Enterprise Products Partners stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 acquired at an average price of $31.35 per share, with a total value of $470,250.00. Following the completion of the purchase, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. This represents a 10.45% increase in their position. The disclosure for this purchase can be found here. Insiders own 32.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on EPD shares. Scotiabank dropped their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, September 19th. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Stifel Nicolaus dropped 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 research report on Tuesday, July 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Finally, Barclays dropped 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 research report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.75.

Enterprise Products Partners Trading Down 1.5%

NYSE:EPD opened at $30.81 on Monday. 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 $66.70 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 2.19 and a beta of 0.64. The firm’s 50 day moving average is $31.58 and its 200 day moving average is $31.37. 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 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%.The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the firm posted $0.64 EPS. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s payout ratio is 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.