PBMares Wealth Management LLC Sells 5,500 Shares of Enterprise Products Partners L.P. $EPD

PBMares Wealth Management LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 31.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,010 shares of the oil and gas producer’s stock after selling 5,500 shares during the quarter. PBMares Wealth Management LLC’s holdings in Enterprise Products Partners were worth $372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of EPD. Brooklyn Investment Group bought a new position in shares of Enterprise Products Partners during the 1st quarter valued at $27,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Enterprise Products Partners in the 1st quarter worth $28,000. Crowley Wealth Management Inc. purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter worth $29,000. Security National Bank purchased a new stake in shares of Enterprise Products Partners in the 1st quarter worth $30,000. Finally, Alpine Bank Wealth Management purchased a new stake in shares of Enterprise Products Partners in the 1st quarter worth $31,000. 26.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EPD has been the subject of several analyst reports. Morgan Stanley reduced their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 26th. Barclays reduced their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, July 2nd. Scotiabank reduced their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, September 19th. Stifel Nicolaus reduced their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, July 29th. Finally, Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.75.

Insider Transactions at Enterprise Products Partners

In other news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average price 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William C. Montgomery acquired 16,000 shares of the business’s stock in a transaction dated 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 transaction, the director owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. This represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company’s stock.

Enterprise Products Partners Trading Up 0.2%

Shares of Enterprise Products Partners stock opened at $31.31 on Wednesday. The firm has a market cap of $67.79 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 2.22 and a beta of 0.69. The business has a 50-day moving average price of $31.57 and a 200-day moving average price of $31.52. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The firm had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. Equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a dividend of $0.545 per share. The ex-dividend date was Thursday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.0%. Enterprise Products Partners’s dividend payout ratio (DPR) is 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.