SYM FINANCIAL Corp Takes Position in Enterprise Products Partners L.P. $EPD

SYM FINANCIAL Corp purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to its most recent filing with the SEC. The fund purchased 11,054 shares of the oil and gas producer’s stock, valued at approximately $343,000.

Other institutional investors have also made changes to their positions in the company. Pasadena Private Wealth LLC grew its stake in Enterprise Products Partners by 14.3% during the 2nd quarter. Pasadena Private Wealth LLC now owns 47,541 shares of the oil and gas producer’s stock worth $1,474,000 after buying an additional 5,966 shares during the last quarter. Baer Investment Advisory LLC grew its stake in Enterprise Products Partners by 47.4% during the 2nd quarter. Baer Investment Advisory LLC now owns 64,667 shares of the oil and gas producer’s stock worth $2,008,000 after buying an additional 20,801 shares during the last quarter. Delta Investment Management LLC grew its stake in Enterprise Products Partners by 2.7% during the 2nd quarter. Delta Investment Management LLC now owns 350,332 shares of the oil and gas producer’s stock worth $10,864,000 after buying an additional 9,335 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Enterprise Products Partners by 4.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 614,093 shares of the oil and gas producer’s stock worth $19,043,000 after buying an additional 26,480 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its stake in Enterprise Products Partners by 19.9% during the 2nd quarter. Resonant Capital Advisors LLC now owns 10,493 shares of the oil and gas producer’s stock worth $325,000 after buying an additional 1,743 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director William C. Montgomery bought 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired 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 of the company’s stock, valued at $4,319,826. This represents a 13.23% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 32.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on EPD. Morgan Stanley lowered their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 26th. Barclays lowered their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, July 2nd. Scotiabank lowered their price objective on 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. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Finally, 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 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.82.

Enterprise Products Partners Trading Up 0.7%

Shares of EPD stock opened at $31.21 on Tuesday. 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 L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The stock has a fifty day moving average of $31.45 and a two-hundred day moving average of $31.30. The firm has a market capitalization of $67.57 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 2.21 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (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 business had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter last year, the firm posted $0.64 EPS. The company’s revenue was down 15.7% compared to the same quarter last year. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 7.0%. Enterprise Products Partners’s dividend payout ratio (DPR) 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.