Inspire Investing LLC Acquires Shares of 84,255 Enterprise Products Partners L.P. $EPD

Inspire Investing LLC acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 84,255 shares of the oil and gas producer’s stock, valued at approximately $2,613,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Alps Advisors Inc. boosted its position in shares of Enterprise Products Partners by 5.0% in 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Enterprise Products Partners by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock valued at $375,662,000 after buying an additional 457,045 shares during the last quarter. Chickasaw Capital Management LLC raised its stake in Enterprise Products Partners by 1.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock valued at $171,022,000 after buying an additional 81,135 shares during the last quarter. BROOKFIELD Corp ON increased its stake in shares of Enterprise Products Partners by 2.8% in the 1st quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock worth $160,416,000 after purchasing an additional 128,545 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Enterprise Products Partners by 65.3% in 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 buying an additional 1,717,768 shares during the period. 26.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction that occurred 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 acquisition, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William C. Montgomery acquired 16,000 shares of the business’s 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 acquisition, the director directly owned 136,920 shares of the company’s stock, valued at $4,319,826. This represents a 13.23% increase in their position. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company’s stock.

Enterprise Products Partners Trading Down 1.5%

NYSE:EPD opened at $30.81 on Friday. 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 fifty day simple moving average of $31.58 and a 200-day simple moving average of $31.40. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The company 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 data 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). 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 analyst estimates of $15.24 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was down 15.7% on a year-over-year basis. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently weighed in on EPD. Barclays dropped their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday. Scotiabank dropped their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, September 19th. TD Cowen initiated coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They set a “hold” rating and a $33.00 price objective for the company. Finally, Morgan Stanley lowered their price target on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. Two equities research 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.