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AE Wealth Management LLC Buys 112,503 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

By August 25, 2019 No Comments

AE Wealth Management LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 613.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 130,855 shares of the oil and gas producer’s stock after purchasing an additional 112,503 shares during the period. AE Wealth Management LLC’s holdings in Enterprise Products Partners were worth $3,778,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hilton Capital Management LLC grew its position in Enterprise Products Partners by 16.1% in the first quarter. Hilton Capital Management LLC now owns 774,156 shares of the oil and gas producer’s stock worth $22,528,000 after acquiring an additional 107,426 shares in the last quarter. Commonwealth Bank of Australia grew its position in Enterprise Products Partners by 25.5% in the first quarter. Commonwealth Bank of Australia now owns 58,717 shares of the oil and gas producer’s stock worth $1,708,000 after acquiring an additional 11,921 shares in the last quarter. Smithbridge Asset Management Inc. DE grew its position in Enterprise Products Partners by 2.3% in the second quarter. Smithbridge Asset Management Inc. DE now owns 78,714 shares of the oil and gas producer’s stock worth $2,272,000 after acquiring an additional 1,775 shares in the last quarter. Planning Solutions Group LLC bought a new stake in Enterprise Products Partners in the first quarter worth approximately $205,000. Finally, Ronna Sue Cohen grew its position in Enterprise Products Partners by 2,830.8% in the first quarter. Ronna Sue Cohen now owns 1,312,120 shares of the oil and gas producer’s stock worth $1,312,000 after acquiring an additional 1,267,350 shares in the last quarter. 36.52% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:EPD traded down $0.80 during mid-day trading on Friday, reaching $28.16. 3,978,535 shares of the company were exchanged, compared to its average volume of 4,171,815. The stock has a market cap of $64.12 billion, a PE ratio of 14.52, a PEG ratio of 3.38 and a beta of 0.88. The company has a fifty day moving average of $29.49 and a 200 day moving average of $28.86. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 1.06. Enterprise Products Partners L.P. has a 12 month low of $23.33 and a 12 month high of $30.86.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The firm had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.57 billion. Enterprise Products Partners had a net margin of 14.26% and a return on equity of 20.02%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.16 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.44 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.76 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend was Tuesday, July 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 90.72%.

EPD has been the subject of several recent research reports. ValuEngine downgraded shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Piper Jaffray Companies initiated coverage on shares of Enterprise Products Partners in a research report on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 target price for the company. Johnson Rice started coverage on shares of Enterprise Products Partners in a report on Thursday, May 30th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Enterprise Products Partners currently has a consensus rating of “Buy” and an average target price of $33.75.

In related news, Director Murray E. Brasseux bought 5,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $30.00 per share, for a total transaction of $150,000.00. Following the acquisition, the director now owns 17,885 shares of the company’s stock, valued at approximately $536,550. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 37.50% of the company’s stock.

Enterprise Products Partners Company 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.

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

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