Applied Capital LLC FL Buys 1,792 Shares of Enterprise Products Partners L.P. $EPD

Applied Capital LLC FL grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,353 shares of the oil and gas producer’s stock after buying an additional 1,792 shares during the period. Enterprise Products Partners makes up 1.5% of Applied Capital LLC FL’s portfolio, making the stock its 22nd biggest position. Applied Capital LLC FL’s holdings in Enterprise Products Partners were worth $2,058,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPD. Diversified Trust Co lifted its holdings in shares of Enterprise Products Partners by 13.7% during the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock valued at $516,000 after purchasing an additional 1,821 shares in the last quarter. Aurora Private Wealth Inc. lifted its holdings in shares of Enterprise Products Partners by 3,044.1% during the 1st quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer’s stock valued at $6,853,000 after purchasing an additional 194,336 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in shares of Enterprise Products Partners by 20.0% during the 1st quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer’s stock valued at $4,553,000 after purchasing an additional 22,202 shares in the last quarter. Forbes J M & Co. LLP bought a new position in shares of Enterprise Products Partners during the 1st quarter valued at about $290,000. Finally, Corigliano Investment Advisers LLC bought a new position in shares of Enterprise Products Partners during the 1st quarter valued at about $4,384,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 1.5%

NYSE:EPD opened at $30.81 on Friday. The firm has a market capitalization of $66.70 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 2.22 and a beta of 0.64. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The stock’s 50 day moving average price is $31.58 and its two-hundred day moving average price is $31.40. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results 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). The company had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the firm earned $0.64 EPS. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. TD Cowen assumed coverage on Enterprise Products Partners in a report on Monday, July 7th. They set a “hold” rating and a $33.00 price objective on the stock. Scotiabank cut their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, September 19th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the company an “outperform” rating in a research note on Friday, July 11th. Stifel Nicolaus cut their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.75.

Insider Buying and Selling

In other Enterprise Products Partners news, Director William C. Montgomery bought 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average cost of $31.55 per share, with a total value of $504,800.00. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John R. Rutherford bought 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the acquisition, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. The trade was a 10.45% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by 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.