Insight Wealth Partners LLC Takes Position in Enterprise Products Partners L.P. $EPD

Insight Wealth Partners LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, Holdings Channel reports. The institutional investor bought 6,564 shares of the oil and gas producer’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EPD. ING Groep NV bought a new position in shares of Enterprise Products Partners during the 1st quarter valued at approximately $71,052,000. Alps Advisors Inc. boosted its position in shares of Enterprise Products Partners by 5.0% during the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock valued at $1,410,891,000 after acquiring an additional 1,967,188 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Enterprise Products Partners by 65.3% during the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock valued at $148,415,000 after acquiring an additional 1,717,768 shares during the last quarter. Northside Capital Management LLC bought a new position in shares of Enterprise Products Partners during the 2nd quarter valued at approximately $47,628,000. Finally, Truist Financial Corp raised its holdings in Enterprise Products Partners by 293.6% during the 1st quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock valued at $68,927,000 after buying an additional 1,506,055 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director John R. Rutherford purchased 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 completion of the purchase, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. This represents a 10.45% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William C. Montgomery purchased 16,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the purchase, the director owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. This trade represents a 13.23% increase in their position. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EPD shares. Morgan Stanley decreased their price target on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. TD Cowen started coverage on Enterprise Products Partners in a report on Monday, July 7th. They set a “hold” rating and a $33.00 price target on the stock. Stifel Nicolaus decreased their price target 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. Barclays decreased their price target 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, Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.82.

Enterprise Products Partners Stock Performance

EPD stock opened at $31.00 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The business’s fifty day simple moving average is $31.45 and its two-hundred day simple moving average is $31.26. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The firm has a market cap of $67.13 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 2.21 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $11.36 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The business’s revenue for the quarter was down 15.7% on a year-over-year basis. Analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $0.545 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a yield of 7.0%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 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.