Enterprise Products Partners L.P. $EPD Holdings Increased by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.0% during the second quarter, Holdings Channel reports. The institutional investor owned 97,965 shares of the oil and gas producer’s stock after acquiring an additional 5,516 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $3,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EPD. Brighton Jones LLC raised its position in shares of 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 worth $1,023,000 after buying an additional 5,425 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Enterprise Products Partners by 4.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 709,059 shares of the oil and gas producer’s stock valued at $24,207,000 after acquiring an additional 27,219 shares during the period. Flagship Harbor Advisors LLC raised its holdings in shares of Enterprise Products Partners by 2.2% during the first quarter. Flagship Harbor Advisors LLC now owns 79,470 shares of the oil and gas producer’s stock valued at $2,713,000 after acquiring an additional 1,680 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Enterprise Products Partners by 17.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 86,350 shares of the oil and gas producer’s stock valued at $2,948,000 after acquiring an additional 12,714 shares during the period. Finally, Legacy Advisors LLC raised its holdings in shares of Enterprise Products Partners by 0.9% during the first quarter. Legacy Advisors LLC now owns 93,920 shares of the oil and gas producer’s stock valued at $3,206,000 after acquiring an additional 834 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on EPD. Scotiabank cut 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 report on Friday, September 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Barclays lowered their price objective 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. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Finally, TD Cowen began coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They set a “hold” rating and a $33.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.82.

Insider Activity at Enterprise Products Partners

In other news, Director William C. Montgomery acquired 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average cost of $31.55 per share, with a total value of $504,800.00. Following the acquisition, the director owned 136,920 shares in the company, valued at approximately $4,319,826. This represents a 13.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the acquisition, the director owned 158,586 shares in the company, 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. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD stock opened at $30.79 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $66.67 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 2.18 and a beta of 0.64. 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 50 day moving average of $31.50 and a two-hundred day moving average of $31.24.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). The business 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 business’s revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

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 given a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s payout ratio is currently 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.