Apollon Wealth Management LLC Sells 2,967 Shares of Enterprise Products Partners L.P. $EPD

Apollon Wealth Management LLC decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 114,489 shares of the oil and gas producer’s stock after selling 2,967 shares during the period. Apollon Wealth Management LLC’s holdings in Enterprise Products Partners were worth $3,550,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Diversified Trust Co boosted its holdings in Enterprise Products Partners by 13.7% in the first quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock valued at $516,000 after acquiring an additional 1,821 shares during the last quarter. Aurora Private Wealth Inc. lifted its stake in Enterprise Products Partners by 3,044.1% in the first quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer’s stock valued at $6,853,000 after buying an additional 194,336 shares during the period. Cyndeo Wealth Partners LLC lifted its stake in Enterprise Products Partners by 20.0% in the first quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer’s stock valued at $4,553,000 after buying an additional 22,202 shares during the period. Forbes J M & Co. LLP acquired a new stake in shares of Enterprise Products Partners during the first quarter worth about $290,000. Finally, Corigliano Investment Advisers LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth about $4,384,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 1.5%

Shares of Enterprise Products Partners stock opened at $30.81 on Monday. The business’s 50 day simple moving average is $31.58 and its 200 day simple moving average is $31.37. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.63. The firm has a market cap of $66.70 billion, a PE ratio of 11.45, a P/E/G ratio of 2.19 and a beta of 0.64. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results 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 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 analyst estimates of $15.24 billion. During the same period in the prior year, the business posted $0.64 EPS. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given 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 dividend yield of 7.1%. Enterprise Products Partners’s payout ratio is 81.04%.

Insider Activity at Enterprise Products Partners

In related news, Director William C. Montgomery purchased 16,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were purchased at an average price of $31.55 per share, with a total value of $504,800.00. Following the transaction, the director directly owned 136,920 shares of the company’s stock, valued at $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John R. Rutherford purchased 15,000 shares of the stock in a transaction on Tuesday, July 29th. The shares were bought at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the transaction, the director directly owned 158,586 shares in the company, valued at approximately $4,971,671.10. The trade was a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on EPD. Scotiabank dropped their price target on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, September 19th. Barclays dropped their price target on 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. TD Cowen began coverage on 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. Finally, Stifel Nicolaus dropped their price target on 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. Two 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.75.

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.