Enterprise Products Partners L.P. $EPD Position Trimmed by Apollon Wealth Management LLC

Apollon Wealth Management LLC lessened its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,489 shares of the oil and gas producer’s stock after selling 2,967 shares during the quarter. Apollon Wealth Management LLC’s holdings in Enterprise Products Partners were worth $3,550,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of EPD. Brighton Jones LLC grew its stake in shares of Enterprise Products Partners by 19.9% in 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 buying an additional 5,425 shares in the last quarter. GAMMA Investing LLC grew its position in Enterprise Products Partners by 3,314.0% in the first quarter. GAMMA Investing LLC now owns 17,070 shares of the oil and gas producer’s stock worth $583,000 after acquiring an additional 16,570 shares in the last quarter. SG Americas Securities LLC bought a new stake in Enterprise Products Partners in the first quarter worth approximately $954,000. CX Institutional bought a new stake in Enterprise Products Partners in the first quarter worth approximately $56,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Enterprise Products Partners by 4.5% in the first 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 acquiring an additional 47,784 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Insider Buying and Selling

In other news, Director John R. Rutherford bought 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was acquired at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the purchase, the director owned 158,586 shares of the company’s stock, valued at $4,971,671.10. This trade represents a 10.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William C. Montgomery bought 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average price of $31.55 per share, with a total value of $504,800.00. Following the completion of the purchase, the director directly owned 136,920 shares of the company’s stock, valued at $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.

Wall Street Analyst Weigh In

EPD has been the subject of several recent research reports. Morgan Stanley decreased their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. TD Cowen assumed coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They issued a “hold” rating and a $33.00 target price for the company. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Barclays decreased their target price on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.75.

Enterprise Products Partners Stock Down 1.5%

Shares of EPD stock opened at $30.81 on Monday. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63. The firm has a market cap 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 stock has a 50 day moving average of $31.58 and a 200-day moving average of $31.37. 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 (NYSE:EPD) last issued 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). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.545 per share. The ex-dividend date is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.1%. Enterprise Products Partners’s payout ratio is 81.04%.

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.