Sax Wealth Advisors LLC Boosts Stock Holdings in Enterprise Products Partners L.P. $EPD

Sax Wealth Advisors LLC increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 6.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,651 shares of the oil and gas producer’s stock after purchasing an additional 488 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in Enterprise Products Partners in the first quarter worth approximately $27,000. Wealth Preservation Advisors LLC purchased a new stake in Enterprise Products Partners in the first quarter worth approximately $28,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners in the second quarter worth approximately $29,000. Security National Bank bought a new position in Enterprise Products Partners in the first quarter worth approximately $30,000. Finally, Alpine Bank Wealth Management bought a new position in Enterprise Products Partners in the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Morgan Stanley decreased their price target on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. Stifel Nicolaus decreased their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, July 29th. Barclays decreased their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 2nd. TD Cowen initiated coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They issued a “hold” rating and a $33.00 price target on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.75.

Insider Activity

In other Enterprise Products Partners news, Director William C. Montgomery purchased 16,000 shares of Enterprise Products Partners stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the acquisition, the director owned 136,920 shares in the company, valued at $4,319,826. This trade represents a 13.23% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction dated Tuesday, July 29th. The stock was acquired at an average price 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 disclosure for this purchase can be found here. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $31.27 on Friday. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. The stock has a market capitalization of $67.70 billion, a P/E ratio of 11.62, a PEG ratio of 2.25 and a beta of 0.64. The firm has a fifty day simple moving average of $31.58 and a two-hundred day simple moving average of $31.42. 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 (NYSE:EPD) last released 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 firm had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 15.7% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, October 31st. This represents a $2.18 annualized dividend and a dividend yield of 7.0%. Enterprise Products Partners’s payout ratio is currently 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.