Purkiss Capital Advisors LLC Has $376,000 Stock Position in Enterprise Products Partners L.P. $EPD

Purkiss Capital Advisors LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 14.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,115 shares of the oil and gas producer’s stock after buying an additional 1,518 shares during the period. Purkiss Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $376,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $27,000. Wealth Preservation Advisors LLC purchased a new position in Enterprise Products Partners during the 1st quarter worth approximately $28,000. Crowley Wealth Management Inc. acquired a new stake in Enterprise Products Partners during the 2nd quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new stake in Enterprise Products Partners during the 1st quarter valued at $34,000. Finally, North Capital Inc. acquired a new stake in shares of Enterprise Products Partners in the first quarter worth $38,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Enterprise Products Partners

In related news, Director William C. Montgomery acquired 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average cost of $31.55 per share, with a total value of $504,800.00. Following 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Up 0.7%

Enterprise Products Partners stock opened at $31.21 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. The firm’s fifty day simple moving average is $31.45 and its 200-day simple moving average is $31.30. The company has a market capitalization of $67.57 billion, a P/E ratio of 11.60, a P/E/G ratio of 2.21 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 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 for the quarter, compared to analyst estimates of $15.24 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The company’s quarterly revenue was down 15.7% compared to the same quarter last year. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend 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 is currently 81.04%.

Analyst Ratings Changes

EPD has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Stifel Nicolaus lowered 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. Morgan Stanley dropped their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Finally, TD Cowen started coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They set a “hold” rating and a $33.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price of $35.82.

Enterprise Products Partners Company 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.