HBW Advisory Services LLC Increases Position in Enterprise Products Partners L.P. (NYSE:EPD)

HBW Advisory Services LLC increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 10.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,913 shares of the oil and gas producer’s stock after acquiring an additional 2,272 shares during the period. HBW Advisory Services LLC’s holdings in Enterprise Products Partners were worth $630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 104,195.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock worth $3,192,621,000 after purchasing an additional 132,237,142 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of Enterprise Products Partners by 9.9% in the 4th quarter. Alps Advisors Inc. now owns 27,987,437 shares of the oil and gas producer’s stock valued at $675,057,000 after purchasing an additional 2,510,567 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Enterprise Products Partners by 4.7% in the 1st quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock valued at $646,548,000 after purchasing an additional 1,114,690 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in Enterprise Products Partners by 94.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 23,586,115 shares of the oil and gas producer’s stock valued at $568,897,000 after buying an additional 11,442,697 shares during the period. Finally, Morgan Stanley boosted its position in Enterprise Products Partners by 17.6% during the fourth quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock valued at $500,370,000 after buying an additional 3,102,695 shares during the period. 26.54% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 0.5 %

EPD opened at $27.10 on Friday. The stock has a market cap of $58.85 billion, a PE ratio of 10.97 and a beta of 1.08. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The business has a 50 day moving average of $26.64 and a 200-day moving average of $26.22. Enterprise Products Partners L.P. has a 52 week low of $22.90 and a 52 week high of $27.28.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). The firm had revenue of $10.65 billion during the quarter, compared to analysts’ expectations of $12.34 billion. Enterprise Products Partners had a net margin of 10.39% and a return on equity of 19.71%. The company’s revenue for the quarter was down 33.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 EPS. Equities research analysts predict 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 Monday, August 14th. Investors of record on Monday, July 31st were given a dividend of $0.50 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 7.38%. The ex-dividend date of this dividend was Friday, July 28th. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.97%.

Analyst Ratings Changes

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

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery bought 50,000 shares of the stock in a transaction dated Friday, August 4th. The stock was purchased at an average cost 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 $3,052,562.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 32.60% of the stock is currently owned by corporate insiders.

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