Enterprise Products Partners L.P. $EPD Shares Acquired by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 57.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 153,695 shares of the oil and gas producer’s stock after buying an additional 56,112 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $4,766,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in EPD. Brighton Jones LLC raised its stake in shares of Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after buying an additional 5,425 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Enterprise Products Partners by 3,314.0% during the 1st quarter. GAMMA Investing LLC now owns 17,070 shares of the oil and gas producer’s stock worth $583,000 after buying an additional 16,570 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth $954,000. CX Institutional acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth $56,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Enterprise Products Partners by 4.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,116,068 shares of the oil and gas producer’s stock worth $38,103,000 after buying an additional 47,784 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.8%

EPD opened at $30.53 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The stock has a market capitalization of $66.11 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 2.19 and a beta of 0.64. The business has a 50-day moving average of $31.56 and a two-hundred day moving average of $31.33. 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 posted its quarterly 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 analysts’ expectations of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a $0.545 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.18 annualized dividend and a yield of 7.1%. Enterprise Products Partners’s payout ratio is 81.04%.

Insider Activity

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was bought at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director directly owned 158,586 shares of the company’s stock, valued at $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director William C. Montgomery purchased 16,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was acquired at an average price of $31.55 per share, with a total value of $504,800.00. Following the acquisition, the director directly owned 136,920 shares in the company, 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. 32.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on EPD shares. Barclays cut their price target 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 dropped 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 report on Friday, September 19th. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Morgan Stanley dropped their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. Finally, Stifel Nicolaus dropped their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. Two equities research 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. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average 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.