CORDA Investment Management LLC. Has $1.18 Million Stake in Enterprise Products Partners L.P. $EPD

CORDA Investment Management LLC. boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 6.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,060 shares of the oil and gas producer’s stock after purchasing an additional 2,340 shares during the period. CORDA Investment Management LLC.’s holdings in Enterprise Products Partners were worth $1,180,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Alps Advisors Inc. increased 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 valued at $1,410,891,000 after buying an additional 1,967,188 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Enterprise Products Partners by 4.3% during the 1st 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 last quarter. Chickasaw Capital Management LLC increased its position in Enterprise Products Partners by 1.5% in 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 acquiring an additional 81,135 shares during the period. Hamlin Capital Management LLC raised its stake in shares of Enterprise Products Partners by 1.8% during the second quarter. Hamlin Capital Management LLC now owns 4,995,047 shares of the oil and gas producer’s stock valued at $154,896,000 after acquiring an additional 89,987 shares during the last quarter. Finally, BROOKFIELD Corp ON raised its stake in shares of Enterprise Products Partners by 2.8% during the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock valued at $160,416,000 after acquiring an additional 128,545 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were purchased 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William C. Montgomery acquired 16,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were bought at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the transaction, the director directly owned 136,920 shares in the company, valued at approximately $4,319,826. This represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is owned by corporate insiders.

Enterprise Products Partners Stock Down 0.1%

Shares of NYSE:EPD opened at $30.21 on Monday. 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 business’s 50-day moving average is $31.52 and its 200-day moving average is $31.25. The company has a market capitalization of $65.42 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 2.15 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last issued 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 business had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. Equities research analysts predict 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 announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s payout ratio is presently 81.04%.

Analyst Ratings Changes

A number of analysts recently weighed in on EPD shares. Morgan Stanley decreased 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. Stifel Nicolaus reduced their price target on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, July 29th. Barclays lowered their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the company an “outperform” rating in a report on Friday, July 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.82.

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.