Copperwynd Financial LLC Boosts Stock Position in Enterprise Products Partners L.P. $EPD

Copperwynd Financial LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,450 shares of the oil and gas producer’s stock after purchasing an additional 583 shares during the period. Copperwynd Financial LLC’s holdings in Enterprise Products Partners were worth $386,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Alps Advisors Inc. boosted its position in Enterprise Products Partners by 5.0% during the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock valued at $1,410,891,000 after acquiring an additional 1,967,188 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Enterprise Products Partners by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock valued at $375,662,000 after acquiring an additional 457,045 shares in the last quarter. Chickasaw Capital Management LLC boosted its position in Enterprise Products Partners by 1.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock valued at $171,022,000 after acquiring an additional 81,135 shares in the last quarter. BROOKFIELD Corp ON boosted its position in Enterprise Products Partners by 2.8% during the 1st quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock valued at $160,416,000 after acquiring an additional 128,545 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Enterprise Products Partners by 65.3% during the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock valued at $148,415,000 after acquiring an additional 1,717,768 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of EPD opened at $31.66 on Thursday. The company has a market capitalization of $68.55 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 2.25 and a beta of 0.64. 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 $31.58 and a 200 day moving average of $31.44. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period last year, the business earned $0.64 EPS. Enterprise Products Partners’s revenue was down 15.7% on a year-over-year basis. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s payout ratio is 81.04%.

Insider Buying and Selling

In related news, Director John R. Rutherford bought 15,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was acquired at an average price of $31.35 per share, with a total value of $470,250.00. Following the transaction, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William C. Montgomery bought 16,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The stock was bought at an average cost of $31.55 per share, with a total value of $504,800.00. Following the transaction, the director owned 136,920 shares in the company, valued at $4,319,826. This trade represents a 13.23% increase in their position. The disclosure for this purchase can be found here. Insiders own 32.60% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the topic of several research reports. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday. Barclays lowered 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. TD Cowen started coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They set a “hold” rating and a $33.00 target price for the company. Finally, Scotiabank lowered their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.75.

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.