Soltis Investment Advisors LLC Acquires New Holdings in Enterprise Products Partners L.P. $EPD

Soltis Investment Advisors LLC acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPDFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,967 shares of the oil and gas producer’s stock, valued at approximately $448,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EPD. Brighton Jones LLC raised its position in Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after acquiring an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. raised its position in Enterprise Products Partners by 9.3% in the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock worth $1,827,000 after acquiring an additional 5,000 shares in the last quarter. Geode Capital Management LLC raised its position in Enterprise Products Partners by 6.2% in the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after acquiring an additional 3,742 shares in the last quarter. Guggenheim Capital LLC raised its position in Enterprise Products Partners by 6.1% in the second quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock worth $847,000 after acquiring an additional 1,578 shares in the last quarter. Finally, Glenview Trust co raised its position in Enterprise Products Partners by 315.8% in the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock worth $1,043,000 after acquiring an additional 25,555 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on EPD. Royal Bank Of Canada boosted their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. TD Cowen reiterated a “hold” rating and issued a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Citigroup restated a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Scotiabank restated a “sector perform” rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Thursday, January 22nd. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.60.

Check Out Our Latest Report on Enterprise Products Partners

Insiders Place Their Bets

In other news, CEO Aj Teague purchased 2,665 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the purchase, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. This represents a 3.56% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 32.60% of the stock is currently owned by company insiders.

Enterprise Products Partners Trading Up 0.4%

NYSE:EPD opened at $39.38 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $39.93. The stock’s 50-day moving average is $37.86 and its two-hundred day moving average is $34.80. The stock has a market cap of $85.14 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPDGet Free Report) last released its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. During the same period last year, the firm earned $0.64 EPS. The company’s revenue was down 6.7% compared to the same quarter last year. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s payout ratio is 81.48%.

About Enterprise Products Partners

(Free Report)

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

See Also

Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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