Perissos Private Wealth Management LLC Reduces Stake in Enterprise Products Partners L.P. $EPD

Perissos Private Wealth Management LLC reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 15.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,448 shares of the oil and gas producer’s stock after selling 5,513 shares during the quarter. Perissos Private Wealth Management LLC’s holdings in Enterprise Products Partners were worth $944,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of EPD. Brooklyn Investment Group bought a new position in Enterprise Products Partners in the 1st quarter worth $27,000. Wealth Preservation Advisors LLC bought a new position in Enterprise Products Partners in the 1st quarter worth $28,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners in the 2nd quarter worth $29,000. N.E.W. Advisory Services LLC purchased a new position in shares of Enterprise Products Partners during the first quarter valued at about $34,000. Finally, North Capital Inc. purchased a new position in shares of Enterprise Products Partners during the first quarter valued at about $38,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $31.00 on Friday. The company has a market capitalization of $67.13 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 2.21 and a beta of 0.64. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average of $31.45 and a 200 day moving average of $31.28.

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 analysts’ consensus estimates of $0.67 by ($0.01). The business had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. On average, sell-side 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 company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 81.04%.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director John R. Rutherford bought 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average cost of $31.35 per share, with a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William C. Montgomery purchased 16,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was acquired at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the acquisition, the director owned 136,920 shares of the company’s stock, valued at $4,319,826. The trade was a 13.23% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on EPD. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Saturday. Stifel Nicolaus dropped their price target on 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. Morgan Stanley dropped their price target on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Finally, TD Cowen initiated coverage on Enterprise Products Partners in a research report on Monday, July 7th. They issued a “hold” rating and a $33.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.