CFM Wealth Partners LLC Sells 6,788 Shares of Enterprise Products Partners L.P. $EPD

CFM Wealth Partners LLC decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 3.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 187,946 shares of the oil and gas producer’s stock after selling 6,788 shares during the period. Enterprise Products Partners accounts for about 0.9% of CFM Wealth Partners LLC’s portfolio, making the stock its 29th biggest holding. CFM Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $5,828,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Alps Advisors Inc. boosted its stake in shares of Enterprise Products Partners by 5.0% in 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Enterprise Products Partners by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock worth $375,662,000 after acquiring an additional 457,045 shares during the period. Chickasaw Capital Management LLC boosted its stake in shares of Enterprise Products Partners by 1.5% in the second quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock worth $171,022,000 after acquiring an additional 81,135 shares during the period. BROOKFIELD Corp ON boosted 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 acquiring an additional 128,545 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Enterprise Products Partners by 65.3% in the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock worth $148,415,000 after acquiring an additional 1,717,768 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.4%

Shares of EPD stock opened at $31.52 on Tuesday. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The stock’s 50 day simple moving average is $31.57 and its two-hundred day simple moving average is $31.43. The company has a market cap of $68.25 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 2.25 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last issued 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). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter last year, the company earned $0.64 earnings per share. The company’s revenue for the quarter was down 15.7% on a year-over-year basis. Research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Insider Buying and Selling

In other Enterprise Products Partners news, Director William C. Montgomery purchased 16,000 shares of Enterprise Products Partners stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the acquisition, 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 legal filing with the SEC, which is available at this hyperlink. Also, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction dated Tuesday, July 29th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EPD. Stifel Nicolaus dropped their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, July 29th. Barclays dropped their price target on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, July 2nd. TD Cowen initiated coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a “hold” rating and a $33.00 price target for the company. Morgan Stanley dropped their price target on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 26th. Finally, Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an “outperform” rating in a research note on Friday, July 11th. Two research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

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.