Stratos Wealth Advisors LLC Sells 989 Shares of Enterprise Products Partners L.P. $EPD

Stratos Wealth Advisors LLC cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,134 shares of the oil and gas producer’s stock after selling 989 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $593,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EPD. ING Groep NV acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $71,052,000. Alps Advisors Inc. boosted its stake in Enterprise Products Partners by 5.0% during the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock valued at $1,410,891,000 after purchasing an additional 1,967,188 shares during the period. JPMorgan Chase & Co. grew its holdings in Enterprise Products Partners by 65.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock valued at $148,415,000 after buying an additional 1,717,768 shares during the last quarter. Northside Capital Management LLC bought a new position in Enterprise Products Partners in the 2nd quarter worth approximately $47,628,000. Finally, Truist Financial Corp lifted its holdings in shares of Enterprise Products Partners by 293.6% during the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock worth $68,927,000 after buying an additional 1,506,055 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EPD. Stifel Nicolaus lowered their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research note 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. Morgan Stanley dropped their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. Scotiabank reduced 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 note on Friday, September 19th. Finally, Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an “outperform” rating in a research note 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 stock. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average price target of $35.82.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director William C. Montgomery bought 16,000 shares of Enterprise Products Partners stock in a transaction dated Wednesday, July 30th. The shares were bought at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the purchase, the director owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John R. Rutherford bought 15,000 shares of the stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average cost of $31.35 per share, for a total transaction 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. 32.60% of the stock is owned by insiders.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $30.21 on Monday. The firm has a market cap of $65.42 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 2.15 and a beta of 0.64. The firm’s 50-day simple moving average is $31.52 and its 200-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 company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The business had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. As a group, research analysts expect 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. Investors of record on Friday, October 31st will be paid a $0.545 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.18 annualized dividend and a yield of 7.2%. Enterprise Products Partners’s payout ratio is currently 81.04%.

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.