Inspire Investing LLC Acquires New Shares in Enterprise Products Partners L.P. $EPD

Inspire Investing LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 84,255 shares of the oil and gas producer’s stock, valued at approximately $2,613,000.

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

Insider Activity

In other news, Director John R. Rutherford purchased 15,000 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was purchased 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 approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William C. Montgomery acquired 16,000 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was bought at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the acquisition, the director owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. This trade represents a 13.23% increase in their position. The disclosure for this purchase can be found here. Insiders own 32.60% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the subject of a number of recent analyst reports. Barclays cut 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. TD Cowen assumed coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 price objective for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday. 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. Finally, Morgan Stanley reduced their price target on 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. 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $35.75.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $30.81 on Friday. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The business has a fifty day moving average price of $31.58 and a 200-day moving average price of $31.40. 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 capitalization of $66.70 billion, a P/E ratio of 11.45, a PEG ratio of 2.22 and a beta of 0.64.

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%.Enterprise Products Partners’s revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 earnings per share. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared 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 7.1%. 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.