Violich Capital Management Inc. Has $474,000 Stock Position in Enterprise Products Partners L.P. $EPD

Violich Capital Management Inc. lowered its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 14.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 15,300 shares of the oil and gas producer’s stock after selling 2,500 shares during the period. Violich Capital Management Inc.’s holdings in Enterprise Products Partners were worth $474,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of EPD. Brooklyn Investment Group acquired a new position in Enterprise Products Partners in the 1st quarter valued at about $27,000. Wealth Preservation Advisors LLC acquired a new position in Enterprise Products Partners in the 1st quarter valued at about $28,000. Crowley Wealth Management Inc. acquired a new position in Enterprise Products Partners in the 2nd quarter valued at about $29,000. Security National Bank acquired a new position in Enterprise Products Partners in the 1st quarter valued at about $30,000. Finally, Alpine Bank Wealth Management bought a new stake in Enterprise Products Partners in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director William C. Montgomery acquired 16,000 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the transaction, the director directly owned 136,920 shares in the company, valued at $4,319,826. This represents a 13.23% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average price 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 of the company’s stock, 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. 32.60% of the stock is currently owned by company insiders.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $30.21 on Friday. The company has a 50 day moving average of $31.52 and a 200-day moving average of $31.26. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. 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 cap of $65.42 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 2.15 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last issued 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). The company had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. Enterprise Products Partners’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. As a group, equities research 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 firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid 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 7.2%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.04%.

Analyst Upgrades and Downgrades

EPD has been the subject of a number of recent research reports. TD Cowen initiated coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 price objective for the company. Barclays cut their price objective 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. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an “outperform” rating in a report on Friday, July 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Finally, Morgan Stanley cut their price objective 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 research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.82.

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.