Concurrent Investment Advisors LLC Buys 3,575 Shares of Enterprise Products Partners L.P. $EPD

Concurrent Investment Advisors LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,631 shares of the oil and gas producer’s stock after acquiring an additional 3,575 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $4,361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Strategic Advisors LLC grew its stake in shares of Enterprise Products Partners by 3.5% in the first quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer’s stock worth $341,000 after acquiring an additional 337 shares during the period. Per Stirling Capital Management LLC. grew its stake in shares of Enterprise Products Partners by 1.5% in the first quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer’s stock worth $804,000 after acquiring an additional 339 shares during the period. Sound Income Strategies LLC grew its stake in shares of Enterprise Products Partners by 2.1% in the second quarter. Sound Income Strategies LLC now owns 16,796 shares of the oil and gas producer’s stock worth $521,000 after acquiring an additional 340 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Enterprise Products Partners by 1.8% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,353 shares of the oil and gas producer’s stock worth $600,000 after acquiring an additional 347 shares during the period. Finally, Keystone Wealth Services LLC grew its stake in shares of Enterprise Products Partners by 2.6% in the first quarter. Keystone Wealth Services LLC now owns 13,937 shares of the oil and gas producer’s stock worth $476,000 after acquiring an additional 349 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EPD. Barclays cut their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. Stifel Nicolaus cut their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Finally, Scotiabank cut their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $35.75.

Enterprise Products Partners Price Performance

EPD stock opened at $30.94 on Tuesday. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The company’s fifty day moving average price is $31.58 and its 200-day moving average price is $31.34. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The company has a market capitalization of $66.98 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 2.19 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 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 company had revenue of $11.36 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same period last year, the firm posted $0.64 EPS. Enterprise Products Partners’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

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

Insiders Place Their Bets

In other Enterprise Products Partners news, Director William C. Montgomery purchased 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average price 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 $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction that occurred 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 purchase, the director owned 158,586 shares of the company’s stock, valued at $4,971,671.10. This represents a 10.45% 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.

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.