McIlrath & Eck LLC Grows Position in Enterprise Products Partners L.P. $EPD

McIlrath & Eck LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1,771.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,427 shares of the oil and gas producer’s stock after purchasing an additional 5,137 shares during the period. McIlrath & Eck LLC’s holdings in Enterprise Products Partners were worth $185,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in shares of Enterprise Products Partners in the first quarter valued at about $27,000. Wealth Preservation Advisors LLC purchased a new position in shares of Enterprise Products Partners in the first quarter valued at about $28,000. Security National Bank purchased a new position in shares of Enterprise Products Partners in the first quarter valued at about $30,000. Alpine Bank Wealth Management purchased a new position in shares of Enterprise Products Partners in the first quarter valued at about $31,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Enterprise Products Partners in the first quarter valued at about $34,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EPD has been the topic of several research analyst reports. 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 research report on Tuesday, July 29th. Citigroup lowered their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. 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 research report on Wednesday, July 2nd. Scotiabank boosted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Thursday, June 5th. Finally, TD Cowen initiated coverage on Enterprise Products Partners in a research report on Monday, July 7th. They issued a “hold” rating and a $33.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.83.

Insider Activity at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were acquired at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William C. Montgomery acquired 16,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $31.55 per share, with a total value of $504,800.00. Following the completion of the purchase, the director directly owned 136,920 shares in the company, valued at approximately $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Trading Down 0.5%

Shares of EPD stock opened at $31.51 on Tuesday. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $34.63. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The stock’s 50-day moving average price is $31.53 and its 200-day moving average price is $31.69. The stock has a market capitalization of $68.22 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.98 and a beta of 0.69.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $15.24 billion. During the same period last year, the firm posted $0.64 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, July 31st. Enterprise Products Partners’s payout ratio 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.