Enterprise Products Partners L.P. $EPD Shares Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 19.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,493 shares of the oil and gas producer’s stock after purchasing an additional 1,743 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $325,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EPD. ING Groep NV acquired a new position in Enterprise Products Partners during the 1st quarter worth $71,052,000. Alps Advisors Inc. grew its stake in Enterprise Products Partners by 5.0% during the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock worth $1,410,891,000 after purchasing an additional 1,967,188 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Enterprise Products Partners by 65.3% during the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock worth $148,415,000 after purchasing an additional 1,717,768 shares in the last quarter. Northside Capital Management LLC acquired a new position in Enterprise Products Partners during the 2nd quarter worth $47,628,000. Finally, Truist Financial Corp grew its stake in Enterprise Products Partners by 293.6% during the 1st quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock worth $68,927,000 after purchasing an additional 1,506,055 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 0.7%

Enterprise Products Partners stock opened at $31.21 on Tuesday. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The company has a market capitalization of $67.57 billion, a P/E ratio of 11.60, a PEG ratio of 2.21 and a beta of 0.64. The stock has a 50-day simple moving average of $31.45 and a 200-day simple moving average of $31.30.

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 for the quarter, missing the consensus estimate 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 period in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. Equities research 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 disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.545 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.18 annualized dividend and a yield of 7.0%. Enterprise Products Partners’s dividend payout ratio is currently 81.04%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. TD Cowen assumed coverage on Enterprise Products Partners in a research report on Monday, July 7th. They set a “hold” rating and a $33.00 price objective for the company. Scotiabank lowered their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, September 19th. Morgan Stanley lowered their price objective on 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. Barclays lowered their price objective 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, Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.82.

Insider Buying and Selling

In related news, Director William C. Montgomery acquired 16,000 shares of Enterprise Products Partners stock in a transaction on Wednesday, July 30th. The stock was purchased at an average cost of $31.55 per share, with a total value of $504,800.00. Following the purchase, the director directly owned 136,920 shares in the company, valued at approximately $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 32.60% of the stock is currently owned by corporate insiders.

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.