Focus Partners Advisor Solutions LLC Buys Shares of 49,630 Enterprise Products Partners L.P. $EPD

Focus Partners Advisor Solutions LLC purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 49,630 shares of the oil and gas producer’s stock, valued at approximately $1,539,000.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Enterprise Products Partners in the first quarter worth $27,000. Wealth Preservation Advisors LLC acquired a new position in shares of Enterprise Products Partners in the first quarter worth $28,000. Crowley Wealth Management Inc. acquired a new position in shares of Enterprise Products Partners in the second quarter worth $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of Enterprise Products Partners in the first quarter worth $34,000. Finally, North Capital Inc. acquired a new position in shares of Enterprise Products Partners in the first quarter worth $38,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 0.2%

EPD stock opened at $31.00 on Monday. 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 52-week low of $27.77 and a 52-week high of $34.63. The company has a 50-day moving average of $31.45 and a two-hundred day moving average of $31.29. The stock has a market capitalization of $67.13 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 2.21 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last released its quarterly 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). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue was down 15.7% on a year-over-year basis. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company 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 dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is 81.04%.

Insider Transactions at Enterprise Products Partners

In other news, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was bought at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the acquisition, the director directly owned 158,586 shares of the company’s stock, valued at approximately $4,971,671.10. The trade was a 10.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William C. Montgomery purchased 16,000 shares of the firm’s stock in a transaction on Wednesday, July 30th. The shares were purchased at an average price of $31.55 per share, with a total value of $504,800.00. Following the completion of the acquisition, the director directly owned 136,920 shares of the company’s stock, valued at approximately $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 corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EPD. Stifel Nicolaus dropped their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Morgan Stanley decreased their price objective on shares of 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Saturday. Scotiabank decreased their price objective on shares of 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, Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.82.

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.