Whipplewood Advisors LLC Has $1.90 Million Position in Enterprise Products Partners L.P. $EPD

Whipplewood Advisors LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 77,355.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,190 shares of the oil and gas producer’s stock after acquiring an additional 61,111 shares during the quarter. Enterprise Products Partners comprises about 1.0% of Whipplewood Advisors LLC’s investment portfolio, making the stock its 21st largest position. Whipplewood Advisors LLC’s holdings in Enterprise Products Partners were worth $1,898,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Diversified Trust Co lifted its stake in shares of Enterprise Products Partners by 13.7% during the first quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock valued at $516,000 after acquiring an additional 1,821 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Enterprise Products Partners by 7.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer’s stock valued at $4,703,000 after acquiring an additional 9,979 shares during the period. Forbes J M & Co. LLP acquired a new position in shares of Enterprise Products Partners during the first quarter valued at $290,000. Corigliano Investment Advisers LLC acquired a new position in shares of Enterprise Products Partners during the first quarter valued at $4,384,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in shares of Enterprise Products Partners by 1.6% during the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,957,500 shares of the oil and gas producer’s stock valued at $60,702,000 after acquiring an additional 31,652 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.2%

Shares of Enterprise Products Partners stock opened at $31.00 on Friday. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The business has a 50-day moving average of $31.45 and a two-hundred day moving average of $31.28. The company has a market capitalization of $67.13 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 2.21 and a beta of 0.64. 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 (NYSE:EPD) last announced its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $15.24 billion. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue was down 15.7% compared to the same quarter last year. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a dividend of $0.545 per share. The ex-dividend date is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.0%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.04%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Stifel Nicolaus cut their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Barclays cut their target price on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 2nd. Morgan Stanley cut their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Scotiabank cut their target price on 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. Finally, TD Cowen assumed coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 price target for the company. Two research 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’s stock. According to MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus target price of $35.82.

Insider Transactions at Enterprise Products Partners

In other news, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was acquired at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the acquisition, the director owned 158,586 shares in the company, valued at $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William C. Montgomery acquired 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average price of $31.55 per share, with a total value of $504,800.00. Following the completion of the acquisition, the director owned 136,920 shares of the company’s stock, valued at $4,319,826. This 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 company insiders.

About Enterprise Products Partners

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.