Sequoia Financial Advisors LLC Has $796,000 Stake in Enterprise Products Partners L.P. $EPD

Sequoia Financial Advisors LLC increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 25,682 shares of the oil and gas producer’s stock after acquiring an additional 1,034 shares during the period. Sequoia Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $796,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Diversified Trust Co increased its holdings in shares of Enterprise Products Partners by 13.7% during the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock valued at $516,000 after acquiring an additional 1,821 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Enterprise Products Partners by 7.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer’s stock valued at $4,703,000 after acquiring an additional 9,979 shares during the last quarter. Aurora Private Wealth Inc. grew its holdings in Enterprise Products Partners by 3,044.1% in the 1st 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 last quarter. Forbes J M & Co. LLP acquired a new stake in Enterprise Products Partners in the 1st quarter valued at approximately $290,000. Finally, Corigliano Investment Advisers LLC acquired a new stake in Enterprise Products Partners in the 1st quarter valued at approximately $4,384,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $30.21 on Friday. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. The firm has a market capitalization of $65.42 billion, a PE ratio of 11.23, a PEG ratio of 2.15 and a beta of 0.64. The business’s 50 day moving average is $31.52 and its 200-day moving average is $31.26. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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 return on equity of 19.81% and a net margin of 10.71%.The firm had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same period in the previous year, the business posted $0.64 EPS. Enterprise Products Partners’s revenue for the quarter was down 15.7% compared to the same quarter last year. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 7.2%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.04%.

Analysts Set New Price Targets

A number of analysts have issued reports on EPD shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Stifel Nicolaus lowered their target price 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. Scotiabank lowered their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, September 19th. TD Cowen started coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 target price on the stock. Finally, Morgan Stanley lowered their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

Insider Activity at Enterprise Products Partners

In related news, Director William C. Montgomery bought 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the transaction, the director directly owned 136,920 shares of the company’s stock, valued at $4,319,826. This represents a 13.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John R. Rutherford bought 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were bought 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 $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is owned by company insiders.

Enterprise Products Partners Company 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.