Hodges Capital Management Inc. Has $603,000 Stock Holdings in Enterprise Products Partners L.P. $EPD

Hodges Capital Management Inc. trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,676 shares of the oil and gas producer’s stock after selling 741 shares during the quarter. Hodges Capital Management Inc.’s holdings in Enterprise Products Partners were worth $603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in EPD. Brooklyn Investment Group acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at about $27,000. Wealth Preservation Advisors LLC bought a new stake in Enterprise Products Partners in the 1st quarter valued at about $28,000. Security National Bank bought a new stake in Enterprise Products Partners in the 1st quarter valued at about $30,000. Alpine Bank Wealth Management bought a new stake in Enterprise Products Partners in the 1st quarter valued at about $31,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Enterprise Products Partners in the 1st quarter valued at about $34,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William C. Montgomery bought 16,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the purchase, the director directly owned 136,920 shares in the company, valued at approximately $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is owned by insiders.

Analyst Ratings Changes

EPD has been the subject of a number of research analyst reports. TD Cowen initiated coverage on Enterprise Products Partners in a research report on Monday, July 7th. They issued a “hold” rating and a $33.00 target price for the company. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Morgan Stanley decreased their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. Stifel Nicolaus decreased their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. Finally, Barclays decreased their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.83.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $31.75 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 stock has a 50 day moving average price of $31.56 and a two-hundred day moving average price of $31.66. The firm has a market capitalization of $68.75 billion, a P/E ratio of 11.80, a P/E/G ratio of 2.00 and a beta of 0.69. 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 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The company had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share 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. Stockholders of record on Thursday, July 31st were paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date was Thursday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.04%.

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