Catalyst Capital Advisors LLC Grows Stock Position in Enterprise Products Partners L.P. $EPD

Catalyst Capital Advisors LLC grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 564,894 shares of the oil and gas producer’s stock after buying an additional 9,203 shares during the period. Catalyst Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $17,517,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EPD. 180 Wealth Advisors LLC lifted its holdings in Enterprise Products Partners by 18.5% during the second quarter. 180 Wealth Advisors LLC now owns 37,294 shares of the oil and gas producer’s stock valued at $1,156,000 after purchasing an additional 5,809 shares during the last quarter. WFA Asset Management Corp increased its stake in shares of Enterprise Products Partners by 7.6% in the second quarter. WFA Asset Management Corp now owns 9,319 shares of the oil and gas producer’s stock worth $270,000 after purchasing an additional 659 shares in the last quarter. Cornerstone Advisory LLC raised its position in shares of Enterprise Products Partners by 9.0% in the second quarter. Cornerstone Advisory LLC now owns 37,105 shares of the oil and gas producer’s stock valued at $1,151,000 after purchasing an additional 3,055 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of Enterprise Products Partners by 4.2% during the 2nd quarter. Bleakley Financial Group LLC now owns 23,109 shares of the oil and gas producer’s stock valued at $717,000 after buying an additional 942 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC lifted its stake in shares of Enterprise Products Partners by 6.0% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 97,965 shares of the oil and gas producer’s stock valued at $3,038,000 after buying an additional 5,516 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.2%

Shares of EPD opened at $30.98 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 $67.07 billion, a P/E ratio of 11.51, a P/E/G ratio of 2.21 and a beta of 0.64. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The firm’s 50 day simple moving average is $31.46 and its 200 day simple moving average is $31.25.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the company earned $0.64 EPS. Enterprise Products Partners’s quarterly revenue was down 15.7% on a year-over-year basis. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 81.04%.

Insider Activity

In other news, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average cost of $31.35 per share, with a total value of $470,250.00. Following the acquisition, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. This represents a 10.45% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William C. Montgomery purchased 16,000 shares of Enterprise Products Partners stock in a transaction on Wednesday, July 30th. The shares were acquired at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the transaction, the director directly owned 136,920 shares of the company’s stock, 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. 32.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Scotiabank lowered their target price on shares of 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. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. TD Cowen initiated coverage on Enterprise Products Partners in a report on Monday, July 7th. They set a “hold” rating and a $33.00 price objective on the stock. Barclays reduced their target price on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. 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 for the company in a research report on Tuesday, August 26th. Two investment 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.