Avidian Wealth Enterprises LLC Has $2.34 Million Stake in Enterprise Products Partners L.P. $EPD

Avidian Wealth Enterprises LLC boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 18.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,287 shares of the oil and gas producer’s stock after purchasing an additional 11,792 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Enterprise Products Partners were worth $2,335,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of EPD. Brighton Jones LLC increased its holdings in Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after purchasing an additional 5,425 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Enterprise Products Partners by 4.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 709,059 shares of the oil and gas producer’s stock worth $24,207,000 after acquiring an additional 27,219 shares during the period. Hudson Value Partners LLC grew its holdings in Enterprise Products Partners by 42.2% during the 1st quarter. Hudson Value Partners LLC now owns 9,433 shares of the oil and gas producer’s stock worth $322,000 after acquiring an additional 2,800 shares during the period. Flagship Harbor Advisors LLC grew its holdings in Enterprise Products Partners by 2.2% during the 1st quarter. Flagship Harbor Advisors LLC now owns 79,470 shares of the oil and gas producer’s stock worth $2,713,000 after acquiring an additional 1,680 shares during the period. Finally, Pursue Wealth Partners LLC acquired a new stake in Enterprise Products Partners during the 1st quarter worth about $201,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average price of $31.35 per share, with a total value of $470,250.00. Following the transaction, the director owned 158,586 shares in the company, valued at $4,971,671.10. The trade was a 10.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William C. Montgomery purchased 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the transaction, the director owned 136,920 shares in the company, 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 a number of recent analyst reports. Barclays decreased their price target on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. Scotiabank decreased their price target on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, September 19th. Stifel Nicolaus decreased their price target on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, July 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Finally, Morgan Stanley decreased their price target on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.82.

Enterprise Products Partners Price Performance

EPD stock opened at $30.72 on Tuesday. The stock has a market capitalization of $66.51 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 2.15 and a beta of 0.64. The company’s 50-day moving average is $31.51 and its 200-day moving average is $31.24. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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 company had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.Enterprise Products Partners’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

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

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.