Enterprise Products Partners L.P. $EPD Shares Purchased by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 57.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,695 shares of the oil and gas producer’s stock after purchasing an additional 56,112 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $4,766,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in EPD. Brooklyn Investment Group purchased a new position in Enterprise Products Partners in the first quarter valued at approximately $27,000. Wealth Preservation Advisors LLC purchased a new position in Enterprise Products Partners in the first quarter valued at approximately $28,000. Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners in the second quarter valued at approximately $29,000. Security National Bank purchased a new position in Enterprise Products Partners in the first quarter valued at approximately $30,000. Finally, Alpine Bank Wealth Management purchased a new position in Enterprise Products Partners in the first quarter valued at approximately $31,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Enterprise Products Partners news, Director William C. Montgomery bought 16,000 shares of Enterprise Products Partners stock in a transaction on Wednesday, July 30th. The stock was bought at an average price of $31.55 per share, with a total value of $504,800.00. Following the completion of the acquisition, the director owned 136,920 shares in the company, valued at $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction on Tuesday, July 29th. The stock was acquired at an average cost of $31.35 per share, with a total value of $470,250.00. Following the acquisition, 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 disclosure for this purchase can be found here. 32.60% of the stock is currently owned by company insiders.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $30.53 on Thursday. The firm’s fifty day moving average price is $31.56 and its 200 day moving average price is $31.33. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. 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 cap of $66.11 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 2.19 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share 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 firm had revenue of $11.36 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter last year, the business earned $0.64 earnings per share. The business’s quarterly 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 Dividend Announcement

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

Analysts Set New Price Targets

EPD has been the topic of several recent analyst reports. Scotiabank dropped their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note 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. Morgan Stanley lowered their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. Barclays lowered 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. Finally, Stifel Nicolaus lowered 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. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

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.