Advisors Capital Management LLC Acquires 500 Shares of Enterprise Products Partners L.P. $EPD

Advisors Capital Management LLC lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 3.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,250 shares of the oil and gas producer’s stock after purchasing an additional 500 shares during the period. Advisors Capital Management LLC’s holdings in Enterprise Products Partners were worth $452,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Brooklyn Investment Group bought a new position in Enterprise Products Partners during the first quarter valued at about $27,000. Wealth Preservation Advisors LLC bought a new position in Enterprise Products Partners during the first quarter valued at about $28,000. Security National Bank bought a new position in Enterprise Products Partners during the first quarter valued at about $30,000. Alpine Bank Wealth Management bought a new position in Enterprise Products Partners during the first quarter valued at about $31,000. Finally, N.E.W. Advisory Services LLC bought a new position in Enterprise Products Partners during the first quarter valued at about $34,000. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EPD has been the topic of several research reports. Morgan Stanley lowered their price target on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an “outperform” rating in a research note on Friday, July 11th. Scotiabank lifted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Thursday, June 5th. Barclays decreased their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, July 2nd. Finally, Stifel Nicolaus decreased their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.83.

Enterprise Products Partners Stock Down 0.6%

Shares of EPD opened at $31.75 on Friday. The company has a market capitalization of $68.75 billion, a P/E ratio of 11.80, a PEG ratio of 2.00 and a beta of 0.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The business’s 50 day simple moving average is $31.56 and its 200-day simple moving average is $31.65.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The company had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter last year, the firm earned $0.64 EPS. The business’s revenue for the quarter was down 15.7% on a year-over-year basis. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. The ex-dividend date was Thursday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s dividend payout ratio is presently 81.04%.

Insiders Place Their Bets

In related news, Director William C. Montgomery bought 16,000 shares of Enterprise Products Partners stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average cost of $31.55 per share, with a total value of $504,800.00. Following the purchase, the director owned 136,920 shares in the company, valued at approximately $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was bought at an average price of $31.35 per share, with a total value of $470,250.00. Following the acquisition, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is 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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.