Deroy & Devereaux Private Investment Counsel Inc. Acquires 1,290 Shares of Enterprise Products Partners L.P. $EPD

Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 286,250 shares of the oil and gas producer’s stock after purchasing an additional 1,290 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Enterprise Products Partners were worth $8,877,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brooklyn Investment Group bought 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 position in shares of Enterprise Products Partners in the 1st quarter valued at about $28,000. Security National Bank bought a new position in shares of Enterprise Products Partners in the 1st quarter valued at about $30,000. Alpine Bank Wealth Management bought a new position in shares of Enterprise Products Partners in the 1st quarter valued at about $31,000. Finally, Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners in the 2nd quarter valued at about $29,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the topic of several recent research reports. Scotiabank reduced their target price on shares of 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. TD Cowen began coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They issued a “hold” rating and a $33.00 price target on the stock. Barclays cut their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 2nd. Stifel Nicolaus cut their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, July 29th. Finally, Morgan Stanley cut their price target on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $35.75.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery purchased 16,000 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $31.55 per share, with a total value of $504,800.00. Following the purchase, the director directly 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 filing with the SEC, which can be accessed through this link. Also, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the purchase, the director directly owned 158,586 shares in the company, valued at approximately $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $30.78 on Wednesday. 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 capitalization of $66.65 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 2.20 and a beta of 0.64. The company’s 50 day moving average price is $31.57 and its two-hundred day moving average price is $31.34. 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 announced its 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). 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 business’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. On average, analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 7.1%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 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.