Chung Wu Investment Group LLC Purchases Shares of 2,500 Enterprise Products Partners L.P. $EPD

Chung Wu Investment Group 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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,500 shares of the oil and gas producer’s stock, valued at approximately $78,000.

Several other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in shares of Enterprise Products Partners in the 1st quarter worth $27,000. Wealth Preservation Advisors LLC acquired a new stake in Enterprise Products Partners in the first quarter worth about $28,000. Crowley Wealth Management Inc. acquired a new position in shares of Enterprise Products Partners during the second quarter valued at about $29,000. Security National Bank purchased a new position in shares of Enterprise Products Partners in the 1st quarter valued at approximately $30,000. Finally, Alpine Bank Wealth Management acquired a new stake in Enterprise Products Partners in the 1st quarter worth approximately $31,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 0.7%

Shares of NYSE EPD opened at $31.65 on Monday. 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 company’s 50-day simple moving average is $31.56 and its 200-day simple moving average is $31.45. The firm has a market cap of $68.53 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 2.25 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (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 firm had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was down 15.7% on a year-over-year basis. Equities analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a dividend of $0.545 per share. The ex-dividend date of this dividend was Thursday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. Enterprise Products Partners’s payout ratio is currently 81.04%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EPD. Stifel Nicolaus dropped their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, July 29th. 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. Barclays reduced 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 report on Wednesday, July 2nd. Morgan Stanley cut their price target on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. Finally, Scotiabank decreased their price objective on 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. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.75.

Insider Activity

In other Enterprise Products Partners news, 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 price 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 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director William C. Montgomery bought 16,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were bought at an average price 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 in the company, valued at approximately $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company’s stock.

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.