Integrity Alliance LLC. Makes New Investment in Enterprise Products Partners L.P. $EPD

Integrity Alliance LLC. purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 110,721 shares of the oil and gas producer’s stock, valued at approximately $3,780,000.

Several other institutional investors also recently modified their holdings of the stock. Brooklyn Investment Group acquired a new stake in Enterprise Products Partners in the first quarter valued at $27,000. Wealth Preservation Advisors LLC acquired a new stake in Enterprise Products Partners in the first quarter valued at $28,000. Security National Bank acquired a new stake in Enterprise Products Partners in the first quarter valued at $30,000. Alpine Bank Wealth Management acquired a new stake in Enterprise Products Partners in the first quarter valued at $31,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Enterprise Products Partners during the first quarter valued at $34,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

EPD stock opened at $31.55 on Wednesday. The stock has a market capitalization of $68.31 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 1.97 and a beta of 0.69. The company’s 50-day moving average is $31.54 and its 200-day moving average is $31.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (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 company had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period last year, the company earned $0.64 EPS. Enterprise Products Partners’s revenue for the quarter was down 15.7% compared to the same quarter last year. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were issued a dividend of $0.545 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s dividend payout ratio is presently 81.04%.

Insider Buying and Selling

In other news, Director William C. Montgomery acquired 16,000 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was purchased at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the purchase, the director owned 136,920 shares in the company, valued at approximately $4,319,826. This represents a 13.23% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John R. Rutherford acquired 15,000 shares of the firm’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 purchase, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. The trade was 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.

Wall Street Analyst Weigh In

A number of analysts have commented on EPD shares. Citigroup cut their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Morgan Stanley cut their price target 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. Stifel Nicolaus cut their price target 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. Finally, TD Cowen started 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 target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.83.

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.