Naples Global Advisors LLC Has $388,000 Stock Position in Enterprise Products Partners L.P. $EPD

Naples Global Advisors LLC cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 10.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,504 shares of the oil and gas producer’s stock after selling 1,425 shares during the quarter. Naples Global Advisors LLC’s holdings in Enterprise Products Partners were worth $388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ING Groep NV acquired a new stake in Enterprise Products Partners in the first quarter valued at approximately $71,052,000. Alps Advisors Inc. grew its position in Enterprise Products Partners by 5.0% in the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock valued at $1,410,891,000 after purchasing an additional 1,967,188 shares during the period. JPMorgan Chase & Co. increased its stake in Enterprise Products Partners by 65.3% during the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock valued at $148,415,000 after purchasing an additional 1,717,768 shares in the last quarter. Northside Capital Management LLC acquired a new position in Enterprise Products Partners during the second quarter worth $47,628,000. Finally, Truist Financial Corp lifted its stake in shares of Enterprise Products Partners by 293.6% in the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock valued at $68,927,000 after buying an additional 1,506,055 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lowered their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, July 29th. Scotiabank dropped their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, September 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Saturday, September 27th. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the company an “outperform” rating in a research note on Friday, July 11th. Finally, Morgan Stanley cut their price objective on shares of 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, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and an average price target of $35.75.

Enterprise Products Partners Stock Up 0.7%

Shares of NYSE:EPD opened at $31.65 on Friday. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The company has a market capitalization of $68.53 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 2.23 and a beta of 0.64. The business has a fifty day moving average price of $31.56 and a two-hundred day moving average price of $31.48. 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 (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 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 business’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. Analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a $0.545 dividend. 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 annualized dividend and a yield of 6.9%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.04%.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director John R. Rutherford purchased 15,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average price of $31.35 per share, with a total value of $470,250.00. Following the transaction, the director directly owned 158,586 shares of the company’s stock, valued at approximately $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William C. Montgomery acquired 16,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the purchase, the director directly owned 136,920 shares in the company, valued at $4,319,826. This trade 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 corporate insiders.

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.