Moloney Securities Asset Management LLC Has $988,000 Stock Holdings in Enterprise Products Partners L.P. $EPD

Moloney Securities Asset Management LLC cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,845 shares of the oil and gas producer’s stock after selling 2,350 shares during the period. Moloney Securities Asset Management LLC’s holdings in Enterprise Products Partners were worth $988,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Per Stirling Capital Management LLC. boosted its holdings in shares of Enterprise Products Partners by 1.5% during the 1st quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer’s stock worth $804,000 after buying an additional 339 shares during the period. Tranquility Partners LLC boosted its holdings in shares of Enterprise Products Partners by 1.4% during the 2nd quarter. Tranquility Partners LLC now owns 23,944 shares of the oil and gas producer’s stock worth $743,000 after buying an additional 339 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Enterprise Products Partners by 2.1% during the 2nd quarter. Sound Income Strategies LLC now owns 16,796 shares of the oil and gas producer’s stock worth $521,000 after buying an additional 340 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Enterprise Products Partners by 1.8% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,353 shares of the oil and gas producer’s stock worth $600,000 after buying an additional 347 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Enterprise Products Partners by 1.2% during the 1st quarter. Russell Investments Group Ltd. now owns 32,403 shares of the oil and gas producer’s stock worth $1,106,000 after buying an additional 372 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $31.00 on Friday. The firm has a 50 day moving average of $31.45 and a 200-day moving average of $31.26. The stock has a market capitalization of $67.13 billion, a PE ratio of 11.53, a PEG ratio of 2.21 and a beta of 0.64. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month 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.

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. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $0.545 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.18 annualized dividend and a yield of 7.0%. Enterprise Products Partners’s dividend payout ratio is presently 81.04%.

Insider Activity at Enterprise Products Partners

In related news, Director William C. Montgomery acquired 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average price of $31.55 per share, with a total value of $504,800.00. Following the purchase, the director directly owned 136,920 shares in the company, valued at approximately $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John R. Rutherford acquired 15,000 shares of the company’s stock in a transaction that occurred 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 purchase, the director owned 158,586 shares in the company, valued at $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 corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EPD. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Stifel Nicolaus cut their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, July 29th. Scotiabank cut 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. 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. 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 analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.