Quantum Financial Planning Services Inc. Invests $310,000 in Enterprise Products Partners L.P. $EPD

Quantum Financial Planning Services Inc. purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,000 shares of the oil and gas producer’s stock, valued at approximately $310,000.

Other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $27,000. Wealth Preservation Advisors LLC bought a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $28,000. Security National Bank bought a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $30,000. Alpine Bank Wealth Management acquired a new stake in shares of Enterprise Products Partners in the 1st quarter valued at approximately $31,000. Finally, Crowley Wealth Management Inc. acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at approximately $29,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Down 1.5%

Shares of Enterprise Products Partners stock opened at $30.81 on Friday. 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 company has a market capitalization of $66.70 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 2.19 and a beta of 0.64. The business has a fifty day simple moving average of $31.58 and a two-hundred day simple moving average of $31.38. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same period in the prior year, the business posted $0.64 EPS. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. Research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $0.545 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.18 annualized dividend and a dividend yield of 7.1%. Enterprise Products Partners’s dividend payout ratio is 81.04%.

Insider Activity

In other Enterprise Products Partners news, Director William C. Montgomery purchased 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the purchase, the director owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. The trade was a 13.23% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director directly owned 158,586 shares of the company’s stock, valued at $4,971,671.10. This 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Morgan Stanley cut their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. Scotiabank cut their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, September 19th. Stifel Nicolaus cut their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, July 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday. Finally, Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an “outperform” rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price of $35.75.

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.