Arete Wealth Advisors LLC Invests $689,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Posted by Defense World Staff on Sep 16th, 2023

Arete Wealth Advisors LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 26,617 shares of the oil and gas producer’s stock, valued at approximately $689,000.

A number of other large investors have also recently bought and sold shares of EPD. Heritage Wealth Management LLC bought a new position in Enterprise Products Partners in the fourth quarter worth about $25,000. Ellevest Inc. bought a new position in Enterprise Products Partners in the first quarter worth about $25,000. WealthPLAN Partners LLC bought a new position in Enterprise Products Partners in the first quarter worth about $25,000. Pacific Center for Financial Services acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $27,000. Finally, Fairfield Bush & CO. acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $31,000. Institutional investors own 26.54% of the company’s stock.

Insider Buying and Selling

In other Enterprise Products Partners news, Director William C. Montgomery bought 50,000 shares of Enterprise Products Partners stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average cost of $26.60 per share, for a total transaction of $1,330,000.00. Following the completion of the acquisition, the director now owns 114,758 shares of the company’s stock, valued at approximately $3,052,562.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 32.60% of the stock is currently owned by insiders.

Enterprise Products Partners Price Performance

NYSE EPD opened at $27.00 on Friday. Enterprise Products Partners L.P. has a 12 month low of $22.90 and a 12 month high of $27.28. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.67. The firm has a market capitalization of $58.63 billion, a PE ratio of 10.93 and a beta of 1.08. The company’s 50 day simple moving average is $26.66 and its 200 day simple moving average is $26.22.

Enterprise Products Partners (NYSE:EPD – Get Free Report) last issued its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). The business had revenue of $10.65 billion for the quarter, compared to the consensus estimate of $12.34 billion. Enterprise Products Partners had a return on equity of 19.71% and a net margin of 10.39%. The company’s quarterly revenue was down 33.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.52 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 7.41%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.49. The ex-dividend date was Friday, July 28th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.97%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EPD shares. Morgan Stanley restated an “equal weight” rating and issued a $33.00 price target on shares of Enterprise Products Partners in a research note on Thursday, July 20th. StockNews.com started coverage on shares of Enterprise Products Partners in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Mizuho raised their price target on shares of Enterprise Products Partners from $32.00 to $33.00 in a research note on Wednesday, July 19th. Finally, TD Securities dropped their price target on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.70.

Get Our Latest Stock Analysis on EPD

Enterprise Products Partners Company Profile

(Free Report)

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.