Enterprise Products Partners L.P. (NYSE:EPD) Position Trimmed by AdvisorNet Financial Inc

AdvisorNet Financial Inc trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 32.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,020 shares of the oil and gas producer’s stock after selling 2,957 shares during the period. AdvisorNet Financial Inc’s holdings in Enterprise Products Partners were worth $147,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Birch Capital Management LLC boosted its holdings in Enterprise Products Partners by 33.6% during the second quarter. Birch Capital Management LLC now owns 126,291 shares of the oil and gas producer’s stock worth $3,078,000 after buying an additional 31,736 shares in the last quarter. Vigilant Capital Management LLC boosted its stake in Enterprise Products Partners by 700.0% in the 2nd quarter. Vigilant Capital Management LLC now owns 2,400 shares of the oil and gas producer’s stock worth $58,000 after purchasing an additional 2,100 shares during the period. Capital Investment Advisors LLC boosted its stake in Enterprise Products Partners by 7.4% in the 2nd quarter. Capital Investment Advisors LLC now owns 598,487 shares of the oil and gas producer’s stock worth $14,585,000 after purchasing an additional 41,221 shares during the period. Bard Financial Services Inc. boosted its stake in Enterprise Products Partners by 9.4% in the 2nd quarter. Bard Financial Services Inc. now owns 152,025 shares of the oil and gas producer’s stock worth $3,705,000 after purchasing an additional 13,000 shares during the period. Finally, Ellenbecker Investment Group boosted its stake in Enterprise Products Partners by 7.0% in the 2nd quarter. Ellenbecker Investment Group now owns 25,040 shares of the oil and gas producer’s stock worth $610,000 after purchasing an additional 1,641 shares during the period. 27.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on EPD. TD Securities raised their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. UBS Group raised their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, July 8th. Raymond James increased their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 4th. Finally, US Capital Advisors reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, June 1st. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Insider Activity

In other Enterprise Products Partners news, Director John R. Rutherford purchased 6,500 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were acquired at an average price of $25.78 per share, for a total transaction of $167,570.00. Following the acquisition, the director now owns 113,941 shares of the company’s stock, valued at $2,937,398.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Carin Marcy Barth bought 19,050 shares of the company’s stock in a transaction that occurred on Friday, June 24th. The shares were purchased at an average price of $23.64 per share, for a total transaction of $450,342.00. Following the acquisition, the director now directly owns 19,050 shares of the company’s stock, valued at approximately $450,342. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John R. Rutherford bought 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was purchased at an average price of $25.78 per share, for a total transaction of $167,570.00. Following the acquisition, the director now directly owns 113,941 shares in the company, valued at $2,937,398.98. The disclosure for this purchase can be found here. 37.50% of the stock is owned by insiders.

Enterprise Products Partners Stock Down 0.5 %

Enterprise Products Partners stock opened at $25.81 on Wednesday. The company has a market capitalization of $56.25 billion, a P/E ratio of 11.69 and a beta of 1.15. The firm’s fifty day simple moving average is $26.26 and its 200-day simple moving average is $26.01. The company has a current ratio of 0.87, a quick ratio of 0.65 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 1-year low of $20.42 and a 1-year high of $28.65.

Enterprise Products Partners (NYSE:EPDGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The business had revenue of $16.06 billion for the quarter, compared to the consensus estimate of $11.96 billion. Enterprise Products Partners had a net margin of 9.54% and a return on equity of 18.97%. Enterprise Products Partners’s revenue for the quarter was up 69.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 EPS. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.52 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were issued a dividend of $0.475 per share. The ex-dividend date was Thursday, July 28th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 7.36%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.47. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 85.59%.

Enterprise Products Partners Company Profile

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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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