Ballast Advisors LLC Has $9.64 Million Stock Position in Enterprise Products Partners L.P. $EPD

Ballast Advisors LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 310,856 shares of the oil and gas producer’s stock after purchasing an additional 10,935 shares during the period. Enterprise Products Partners comprises 2.8% of Ballast Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Ballast Advisors LLC’s holdings in Enterprise Products Partners were worth $9,640,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Brooklyn Investment Group bought a new position in shares of Enterprise Products Partners during the first quarter valued at $27,000. Wealth Preservation Advisors LLC acquired a new stake in Enterprise Products Partners in the first quarter valued at $28,000. Crowley Wealth Management Inc. acquired a new position in Enterprise Products Partners during the 2nd quarter worth about $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of Enterprise Products Partners in the 1st quarter valued at about $34,000. Finally, North Capital Inc. acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $38,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Enterprise Products Partners

In other news, 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 acquisition, the director owned 136,920 shares in the company, valued at $4,319,826. The trade was a 13.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John R. Rutherford purchased 15,000 shares of the stock in a transaction dated 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 transaction, the director 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 ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is owned by insiders.

Enterprise Products Partners Stock Up 0.2%

EPD opened at $31.00 on Friday. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63. The firm has a market capitalization of $67.13 billion, a P/E ratio of 11.53, a PEG ratio of 2.21 and a beta of 0.64. The company’s 50-day moving average is $31.45 and its 200 day moving average is $31.28. 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 (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 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 return on equity of 19.81% and a net margin of 10.71%.The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. Research analysts expect 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. Shareholders 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 7.0%. Enterprise Products Partners’s payout ratio is currently 81.04%.

Analyst Ratings Changes

EPD has been the topic of a number of analyst reports. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research note on Friday, July 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Saturday. Stifel Nicolaus cut their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research 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 for the company in a report on Friday, September 19th. Finally, Morgan Stanley cut their price target 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 equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

Enterprise Products Partners 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.