Arista Wealth Management LLC Buys Shares of 19,300 Enterprise Products Partners L.P. $EPD

Arista Wealth Management LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,300 shares of the oil and gas producer’s stock, valued at approximately $598,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group bought a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $27,000. Wealth Preservation Advisors LLC bought a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $28,000. Security National Bank bought a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $30,000. Alpine Bank Wealth Management bought a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $31,000. Finally, Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $29,000. Institutional investors own 26.07% of the company’s stock.

Insider Activity

In other news, Director William C. Montgomery purchased 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average cost 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John R. Rutherford acquired 15,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was bought at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the transaction, the director owned 158,586 shares in the company, valued at $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on EPD shares. Scotiabank cut their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, September 19th. Barclays cut 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 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. Stifel Nicolaus cut their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. Finally, Morgan Stanley dropped 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 note on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.82.

Enterprise Products Partners Stock Down 0.1%

EPD opened at $30.21 on Friday. The stock has a market cap of $65.42 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 2.15 and a beta of 0.64. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The firm’s fifty day moving average is $31.52 and its 200 day moving average is $31.28.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly 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). 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 during the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared 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 yield of 7.2%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 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.