Invictus Private Wealth LLC Takes Position in Enterprise Products Partners L.P. $EPD

Invictus Private Wealth LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, HoldingsChannel reports. The fund purchased 6,974 shares of the oil and gas producer’s stock, valued at approximately $216,000.

Several other hedge funds also recently modified their holdings of the company. Trust Co. of Toledo NA OH acquired a new position in shares of Enterprise Products Partners during the 2nd quarter valued at $3,882,000. Applied Capital LLC FL boosted its stake in shares of Enterprise Products Partners by 2.8% during the 2nd quarter. Applied Capital LLC FL now owns 66,353 shares of the oil and gas producer’s stock worth $2,058,000 after acquiring an additional 1,792 shares in the last quarter. Inspire Investing LLC bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth $2,613,000. Thompson Investment Management Inc. boosted its stake in shares of Enterprise Products Partners by 38.1% during the 2nd quarter. Thompson Investment Management Inc. now owns 15,916 shares of the oil and gas producer’s stock worth $494,000 after acquiring an additional 4,389 shares in the last quarter. Finally, L. Roy Papp & Associates LLP boosted its stake in shares of Enterprise Products Partners by 11.4% during the 2nd quarter. L. Roy Papp & Associates LLP now owns 51,856 shares of the oil and gas producer’s stock worth $1,608,000 after acquiring an additional 5,313 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $30.81 on Friday. The stock has a market cap of $66.70 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 2.22 and a beta of 0.64. The business has a fifty day simple moving average of $31.58 and a 200-day simple moving average of $31.40. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results 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 business had revenue of $11.36 billion during the quarter, compared to analyst estimates 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 business earned $0.64 EPS. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.04%.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was acquired at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the acquisition, 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 can be accessed through this hyperlink. Also, Director William C. Montgomery acquired 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average price of $31.55 per share, with a total value 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. This represents a 13.23% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EPD has been the subject of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday. Scotiabank reduced their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, September 19th. Stifel Nicolaus reduced their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, July 29th. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. Finally, TD Cowen initiated coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a “hold” rating and a $33.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average target price of $35.75.

Enterprise Products Partners 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.