FSM Wealth Advisors LLC Trims Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

FSM Wealth Advisors LLC trimmed its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 4.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 37,721 shares of the oil and gas producer’s stock after selling 1,836 shares during the period. FSM Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $998,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Moneta Group Investment Advisors LLC increased its stake in Enterprise Products Partners by 104,195.1% during 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 buying an additional 132,237,142 shares during the period. CIBC Private Wealth Group LLC increased its stake in Enterprise Products Partners by 94.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 23,586,115 shares of the oil and gas producer’s stock worth $568,897,000 after buying an additional 11,442,697 shares during the period. Cowa LLC increased its stake in Enterprise Products Partners by 9,906.0% during the 1st quarter. Cowa LLC now owns 7,753,281 shares of the oil and gas producer’s stock worth $2,001,000 after buying an additional 7,675,795 shares during the period. Morgan Stanley increased its stake in Enterprise Products Partners by 17.6% during the 4th quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock worth $500,370,000 after buying an additional 3,102,695 shares during the period. Finally, ING Groep NV increased its stake in Enterprise Products Partners by 6,088.4% during the 1st quarter. ING Groep NV now owns 2,661,000 shares of the oil and gas producer’s stock worth $68,920,000 after buying an additional 2,618,000 shares during the period. 26.54% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

NYSE:EPD traded up $0.05 during trading hours on Monday, reaching $27.06. 1,514,358 shares of the company’s stock were exchanged, compared to its average volume of 4,268,358. The firm has a market capitalization of $58.77 billion, a price-to-earnings ratio of 10.99 and a beta of 1.08. The company has a 50-day moving average of $26.67 and a 200 day moving average of $26.24. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 1-year low of $22.90 and a 1-year high of $27.28.

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

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 31st were given a dividend of $0.50 per share. The ex-dividend date was Friday, July 28th. This represents a $2.00 dividend on an annualized basis and a yield of 7.39%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.49. Enterprise Products Partners’s dividend payout ratio is presently 80.97%.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. TD Securities dropped their price objective on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. Mizuho increased their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 in a research report on Wednesday, July 19th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $33.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, July 20th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $30.70.

Insiders Place Their Bets

In other news, Director William C. Montgomery acquired 50,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was bought at an average price of $26.60 per share, for a total transaction of $1,330,000.00. Following the transaction, the director now owns 114,758 shares in the company, valued at $3,052,562.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 32.60% of the stock is owned by insiders.

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.