Tranquility Partners LLC Increases Holdings in Enterprise Products Partners L.P. $EPD

Tranquility Partners LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,944 shares of the oil and gas producer’s stock after purchasing an additional 339 shares during the quarter. Tranquility Partners LLC’s holdings in Enterprise Products Partners were worth $743,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new position in shares of Enterprise Products Partners in the first quarter worth about $27,000. Wealth Preservation Advisors LLC purchased a new position in Enterprise Products Partners during the first quarter valued at approximately $28,000. Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners during the second quarter valued at approximately $29,000. Security National Bank purchased a new position in Enterprise Products Partners during the first quarter valued at approximately $30,000. Finally, Alpine Bank Wealth Management purchased a new position in Enterprise Products Partners during the first quarter valued at approximately $31,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Down 1.5%

Shares of EPD opened at $30.81 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63. The stock’s 50 day moving average is $31.58 and its two-hundred day moving average is $31.38. The firm has a market cap of $66.70 billion, a P/E ratio of 11.45, a PEG ratio of 2.19 and a beta of 0.64.

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). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. Analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s payout ratio is presently 81.04%.

Insider Activity at Enterprise Products Partners

In other news, Director William C. Montgomery purchased 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the transaction, the director owned 136,920 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. Also, Director John R. Rutherford purchased 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average price of $31.35 per share, with a total value of $470,250.00. Following the completion of the transaction, the director directly owned 158,586 shares of the company’s stock, valued at $4,971,671.10. This represents a 10.45% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on EPD. Barclays reduced their price target on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Morgan Stanley reduced their price target 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. 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, TD Cowen initiated coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.75.

Enterprise Products Partners 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.