QRG Capital Management Inc. Has $298,000 Holdings in Enterprise Products Partners L.P. $EPD

QRG Capital Management Inc. lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 12.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,601 shares of the oil and gas producer’s stock after selling 1,416 shares during the quarter. QRG Capital Management Inc.’s holdings in Enterprise Products Partners were worth $298,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brooklyn Investment Group acquired a new position in Enterprise Products Partners in the 1st quarter valued at approximately $27,000. Wealth Preservation Advisors LLC acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth $28,000. Crowley Wealth Management Inc. acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth $29,000. Security National Bank acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth $30,000. Finally, Alpine Bank Wealth Management acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth $31,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insiders Place Their Bets

In other news, Director William C. Montgomery purchased 16,000 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were purchased at an average cost of $31.55 per share, with a total value of $504,800.00. Following the completion of the transaction, the director owned 136,920 shares of the company’s stock, valued at $4,319,826. The trade was a 13.23% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John R. Rutherford purchased 15,000 shares of the company’s stock in a transaction on Tuesday, July 29th. The shares were purchased at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the transaction, the director directly owned 158,586 shares of the company’s stock, valued at approximately $4,971,671.10. This represents a 10.45% increase in their position. The disclosure for this purchase can be found here. Insiders own 32.60% of the company’s stock.

Analyst Ratings Changes

EPD has been the topic of a number of research analyst reports. Barclays lowered their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 2nd. Scotiabank reduced their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, September 19th. Morgan Stanley reduced their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday. Finally, TD Cowen assumed coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They issued a “hold” rating and a $33.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.75.

Enterprise Products Partners Stock Down 1.5%

Shares of NYSE EPD opened at $30.81 on Friday. The stock has a market cap of $66.70 billion, a P/E ratio of 11.45, a P/E/G ratio of 2.19 and a beta of 0.64. The firm has a 50 day moving average price of $31.58 and a 200 day moving average price of $31.38. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The firm had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS. Analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s payout ratio is currently 81.04%.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.