CORDA Investment Management LLC. Purchases 2,340 Shares of Enterprise Products Partners L.P. $EPD

CORDA Investment Management LLC. raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.6% in the second quarter, HoldingsChannel.com reports. The firm owned 38,060 shares of the oil and gas producer’s stock after buying an additional 2,340 shares during the period. CORDA Investment Management LLC.’s holdings in Enterprise Products Partners were worth $1,180,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Alps Advisors Inc. increased its position in shares of Enterprise Products Partners by 5.0% during the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock worth $1,410,891,000 after acquiring an additional 1,967,188 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Enterprise Products Partners by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock valued at $375,662,000 after acquiring an additional 457,045 shares in the last quarter. Chickasaw Capital Management LLC boosted its stake in Enterprise Products Partners by 1.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock valued at $171,022,000 after purchasing an additional 81,135 shares during the last quarter. Hamlin Capital Management LLC increased its holdings in Enterprise Products Partners by 1.8% during the 2nd quarter. Hamlin Capital Management LLC now owns 4,995,047 shares of the oil and gas producer’s stock worth $154,896,000 after purchasing an additional 89,987 shares in the last quarter. Finally, BROOKFIELD Corp ON raised its stake in shares of Enterprise Products Partners by 2.8% in the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock worth $160,416,000 after purchasing an additional 128,545 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $30.21 on Monday. The company has a market capitalization of $65.42 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 2.15 and a beta of 0.64. The company’s 50-day moving average is $31.52 and its 200 day moving average is $31.25. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (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 analysts’ expectations 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 EPS. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s payout ratio is 81.04%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Stifel Nicolaus cut their price objective on shares of 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 lowered 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. TD Cowen started coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They set a “hold” rating and a $33.00 price target on the stock. Finally, Scotiabank decreased 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 research note on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

Insider Activity at Enterprise Products Partners

In other news, Director John R. Rutherford bought 15,000 shares of the stock in a transaction on Tuesday, July 29th. The shares were purchased at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the purchase, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. This represents a 10.45% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William C. Montgomery acquired 16,000 shares of the 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 purchase, the director directly owned 136,920 shares in the company, valued at $4,319,826. This trade 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 corporate insiders.

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.