Stephens Inc. AR Grows Stake in Enterprise Products Partners L.P. $EPD

Stephens Inc. AR grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 15.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 530,446 shares of the oil and gas producer’s stock after acquiring an additional 70,613 shares during the period. Stephens Inc. AR’s holdings in Enterprise Products Partners were worth $16,880,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Diversified Trust Co raised its stake in shares of Enterprise Products Partners by 13.7% in the first quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock valued at $516,000 after buying an additional 1,821 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Enterprise Products Partners by 7.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer’s stock worth $4,703,000 after acquiring an additional 9,979 shares during the last quarter. Aurora Private Wealth Inc. increased its holdings in Enterprise Products Partners by 3,044.1% in the 1st quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer’s stock worth $6,853,000 after acquiring an additional 194,336 shares during the last quarter. Forbes J M & Co. LLP bought a new stake in Enterprise Products Partners in the 1st quarter valued at about $290,000. Finally, Corigliano Investment Advisers LLC purchased a new stake in Enterprise Products Partners during the first quarter valued at about $4,384,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research note 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 report on Friday, July 11th. TD Cowen began coverage on Enterprise Products Partners in a research report on Monday, July 7th. They set a “hold” rating and a $33.00 target price on the stock. Scotiabank reduced their price target on 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. Finally, Barclays decreased their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 2nd. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $30.21 on Monday. The stock’s 50-day simple moving average is $31.52 and its two-hundred day simple moving average is $31.25. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The firm has a market capitalization of $65.42 billion, a P/E ratio of 11.23, a P/E/G ratio of 2.15 and a beta of 0.64. 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 issued its quarterly earnings data 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). The business 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 firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. As a group, 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 business 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 of this dividend is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.2%. Enterprise Products Partners’s dividend payout ratio is presently 81.04%.

Insiders Place Their Bets

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

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.