BROOKFIELD Corp ON Buys 128,545 Shares of Enterprise Products Partners L.P. $EPD

BROOKFIELD Corp ON increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 2.8% during the first quarter, Holdings Channel.com reports. The firm owned 4,698,769 shares of the oil and gas producer’s stock after purchasing an additional 128,545 shares during the quarter. Enterprise Products Partners accounts for approximately 0.9% of BROOKFIELD Corp ON’s holdings, making the stock its 19th largest position. BROOKFIELD Corp ON’s holdings in Enterprise Products Partners were worth $160,416,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in Enterprise Products Partners in the 1st quarter worth $27,000. Wealth Preservation Advisors LLC bought a new position in Enterprise Products Partners in the 1st quarter worth $28,000. Security National Bank bought a new position in Enterprise Products Partners in the 1st quarter worth $30,000. Alpine Bank Wealth Management bought a new position in Enterprise Products Partners in the 1st quarter worth $31,000. Finally, N.E.W. Advisory Services LLC bought a new position in Enterprise Products Partners in the 1st quarter worth $34,000. 26.07% of the stock is owned by institutional investors.

Insider Transactions at Enterprise Products Partners

In other news, 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 bought 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 owned 158,586 shares of the company’s stock, valued at approximately $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William C. Montgomery bought 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the transaction, the director directly owned 136,920 shares of the company’s stock, valued at $4,319,826. This represents a 13.23% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by insiders.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $31.93 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The company has a market cap of $69.14 billion, a P/E ratio of 11.87, a P/E/G ratio of 1.98 and a beta of 0.69. The firm’s fifty day moving average is $31.55 and its two-hundred day moving average is $31.67. 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 posted its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The firm had revenue of $11.36 billion during the quarter, compared to analysts’ expectations of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.Enterprise Products Partners’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a $0.545 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.54. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Thursday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.04%.

Analysts Set New Price Targets

A number of equities analysts recently commented on EPD shares. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Barclays dropped their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. Stifel Nicolaus dropped their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, July 29th. Scotiabank upped their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Thursday, June 5th. Finally, Morgan Stanley dropped their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.83.

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.