Wealthstar Advisors LLC Sells 3,778 Shares of Enterprise Products Partners L.P. $EPD

Wealthstar Advisors LLC reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 17.9% in the second quarter, Holdings Channel reports. The fund owned 17,283 shares of the oil and gas producer’s stock after selling 3,778 shares during the quarter. Wealthstar Advisors LLC’s holdings in Enterprise Products Partners were worth $536,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Enterprise Products Partners during the 1st quarter valued at approximately $27,000. Wealth Preservation Advisors LLC bought a new position in shares of Enterprise Products Partners during the 1st quarter valued at approximately $28,000. Security National Bank bought a new position in shares of Enterprise Products Partners during the 1st quarter valued at approximately $30,000. Alpine Bank Wealth Management bought a new position in shares of Enterprise Products Partners during the 1st quarter valued at approximately $31,000. Finally, Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners during the 2nd quarter valued at approximately $29,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Down 1.2%

Shares of NYSE:EPD opened at $31.27 on Friday. The firm has a fifty day moving average price of $31.58 and a two-hundred day moving average price of $31.42. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The company has a market cap of $67.70 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 2.25 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. Analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business 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 dividend of $0.545 per share. The ex-dividend date is Friday, October 31st. This represents a $2.18 annualized dividend and a dividend yield of 7.0%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.04%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on EPD shares. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Morgan Stanley cut 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. Scotiabank cut 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. Barclays cut their price objective 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. Finally, TD Cowen assumed coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average price target of $35.75.

Insider Buying and Selling at Enterprise Products Partners

In related news, Director William C. Montgomery acquired 16,000 shares of the 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 transaction, the director owned 136,920 shares in the company, valued at $4,319,826. This represents a 13.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John R. Rutherford acquired 15,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were bought at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the transaction, 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 disclosure for this purchase can be found here. Company insiders own 32.60% of the company’s stock.

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.