Anderson Hoagland & Co. Purchases Shares of 7,720 Enterprise Products Partners L.P. (NYSE:EPD)

Anderson Hoagland & Co. purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,720 shares of the oil and gas producer’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Heritage Wealth Management LLC acquired a new position in Enterprise Products Partners in the fourth quarter valued at about $25,000. Ellevest Inc. bought a new position in shares of Enterprise Products Partners in the first quarter worth about $25,000. WealthPLAN Partners LLC bought a new position in shares of Enterprise Products Partners in the first quarter worth about $25,000. Pacific Center for Financial Services bought a new position in shares of Enterprise Products Partners in the first quarter worth about $27,000. Finally, Fairfield Bush & CO. bought a new position in shares of Enterprise Products Partners in the first quarter worth about $31,000. 26.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Enterprise Products Partners news, Director William C. Montgomery bought 50,000 shares of Enterprise Products Partners stock in a transaction that occurred on Friday, August 4th. The stock was acquired at an average price of $26.60 per share, for a total transaction of $1,330,000.00. Following the completion of the acquisition, the director now owns 114,758 shares of the company’s stock, valued at approximately $3,052,562.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 32.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Mizuho boosted their target price on shares of Enterprise Products Partners from $32.00 to $33.00 in a research note on Wednesday, July 19th. Morgan Stanley reissued an “equal weight” rating and set a $33.00 price target on shares of Enterprise Products Partners in a research note on Thursday, July 20th. TD Securities dropped their price target on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, August 2nd. Finally, StockNews.com assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, August 17th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.70.

Enterprise Products Partners Stock Performance

NYSE:EPD remained flat at $27.09 during trading hours on Friday. 767,959 shares of the company’s stock traded hands, compared to its average volume of 4,263,753. Enterprise Products Partners L.P. has a 1 year low of $22.90 and a 1 year high of $27.28. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.67 and a current ratio of 0.91. The stock has a market cap of $58.83 billion, a P/E ratio of 10.97 and a beta of 1.08. The firm has a 50 day moving average price of $26.64 and a 200 day moving average price of $26.22.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.02). The company had revenue of $10.65 billion during the quarter, compared to analyst estimates of $12.34 billion. Enterprise Products Partners had a net margin of 10.39% and a return on equity of 19.71%. The firm’s quarterly revenue was down 33.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.52 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 7.38%. The ex-dividend date of this dividend was Friday, July 28th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.49. Enterprise Products Partners’s dividend payout ratio is 80.97%.

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