Enterprise Products Partners L.P. $EPD Stock Position Raised by Ritholtz Wealth Management

Ritholtz Wealth Management raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.4% in the second quarter, Holdings Channel reports. The firm owned 44,584 shares of the oil and gas producer’s stock after buying an additional 1,470 shares during the period. Ritholtz Wealth Management’s holdings in Enterprise Products Partners were worth $1,383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EPD. ING Groep NV purchased a new stake in shares of Enterprise Products Partners during the 1st quarter worth about $71,052,000. Alps Advisors Inc. raised its stake in shares of 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 worth $1,410,891,000 after purchasing an additional 1,967,188 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of 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 during the last quarter. Northside Capital Management LLC acquired a new position in shares of Enterprise Products Partners during the 2nd quarter valued at about $47,628,000. Finally, Truist Financial Corp increased its holdings in shares of Enterprise Products Partners by 293.6% during the 1st quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock valued at $68,927,000 after acquiring an additional 1,506,055 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

EPD opened at $30.21 on Friday. The firm has a market capitalization of $65.42 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 2.15 and a beta of 0.64. The stock’s 50 day moving average price is $31.52 and its two-hundred day moving average price is $31.28. 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 released its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 10.71% and a return on equity of 19.81%. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.2%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.04%.

Insider Buying and Selling

In other news, Director William C. Montgomery acquired 16,000 shares of Enterprise Products Partners stock in a transaction on Wednesday, July 30th. The stock was bought at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the transaction, the director owned 136,920 shares of the company’s stock, valued at $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John R. Rutherford acquired 15,000 shares of Enterprise Products Partners stock in a transaction on Tuesday, July 29th. The stock was purchased at an average price of $31.35 per share, with a total value of $470,250.00. Following the transaction, the director directly 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 disclosure for this purchase can be found here. 32.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. TD Cowen assumed coverage on Enterprise Products Partners in a report on Monday, July 7th. They set a “hold” rating and a $33.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the company an “outperform” rating in a report on Friday, July 11th. Stifel Nicolaus lowered their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, July 29th. Finally, Barclays lowered their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.82.

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.