Morningstar Investment Management LLC Buys 1,085 Shares of Enterprise Products Partners L.P. $EPD

Morningstar Investment Management LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,093 shares of the oil and gas producer’s stock after buying an additional 1,085 shares during the period. Morningstar Investment Management LLC’s holdings in Enterprise Products Partners were worth $1,398,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Diversified Trust Co boosted its stake in shares of Enterprise Products Partners by 13.7% in the first quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock valued at $516,000 after buying an additional 1,821 shares during the period. Aurora Private Wealth Inc. boosted its stake in shares of Enterprise Products Partners by 3,044.1% in the first quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer’s stock valued at $6,853,000 after buying an additional 194,336 shares during the period. Cyndeo Wealth Partners LLC boosted its stake in shares of Enterprise Products Partners by 20.0% in the first quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer’s stock valued at $4,553,000 after buying an additional 22,202 shares during the period. Forbes J M & Co. LLP bought a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $290,000. Finally, Corigliano Investment Advisers LLC bought a new stake in Enterprise Products Partners during the first quarter worth $4,384,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Up 0.5%

Shares of EPD opened at $30.94 on Tuesday. The stock has a market capitalization of $66.98 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 2.19 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 stock has a fifty day moving average of $31.58 and a 200-day moving average of $31.34. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96.

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 for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The company had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 earnings per share. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business 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 $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 81.04%.

Insiders Place Their Bets

In related news, Director John R. Rutherford acquired 15,000 shares of the firm’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 directly owned 158,586 shares of the company’s stock, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William C. Montgomery acquired 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was bought 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 directly owned 136,920 shares of the company’s stock, valued at $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company’s stock.

Analysts Set New Price Targets

EPD has been the subject of several recent analyst reports. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. Barclays cut their target price on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, July 2nd. Scotiabank cut their target price 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. 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 target price for the company. Finally, Morgan Stanley cut their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company 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.