FLC Capital Advisors Lowers Position in Enterprise Products Partners L.P. $EPD

FLC Capital Advisors decreased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,920 shares of the oil and gas producer’s stock after selling 3,800 shares during the quarter. FLC Capital Advisors’ holdings in Enterprise Products Partners were worth $3,564,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Enterprise Products Partners by 19.9% in the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after acquiring an additional 5,425 shares in the last quarter. Advisor Resource Council purchased a new stake in shares of Enterprise Products Partners in the first quarter worth $1,061,000. Stonegate Investment Group LLC raised its position in shares of Enterprise Products Partners by 5.9% during the 1st quarter. Stonegate Investment Group LLC now owns 13,271 shares of the oil and gas producer’s stock valued at $453,000 after purchasing an additional 735 shares during the period. Crumly & Associates Inc. lifted its stake in shares of Enterprise Products Partners by 6.2% during the 1st quarter. Crumly & Associates Inc. now owns 17,519 shares of the oil and gas producer’s stock valued at $598,000 after buying an additional 1,029 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Enterprise Products Partners by 4.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 709,059 shares of the oil and gas producer’s stock worth $24,207,000 after buying an additional 27,219 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of recent analyst reports. Stifel Nicolaus decreased their price target on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, July 29th. Morgan Stanley cut their target price on 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. Barclays lowered their price target on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, July 2nd. Scotiabank cut their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, September 19th. Finally, Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.82.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $30.21 on Monday. 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 L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. The business has a 50 day simple moving average of $31.52 and a two-hundred day simple moving average of $31.25. The stock has a market capitalization of $65.42 billion, a PE ratio of 11.23, a P/E/G ratio of 2.15 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last posted its 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 net margin of 10.71% and a return on equity of 19.81%. The firm had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm’s revenue was down 15.7% compared to the same quarter last year. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.04%.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery bought 16,000 shares of Enterprise Products Partners stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the acquisition, the director directly owned 136,920 shares in the company, valued at approximately $4,319,826. This represents a 13.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director John R. Rutherford purchased 15,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was acquired 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 $4,971,671.10. The trade was a 10.45% increase in their position. The disclosure for this purchase can be found here. Insiders own 32.60% of the company’s stock.

About Enterprise Products Partners

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.