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Secure Asset Management LLC Purchases 8,622 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Financial News Live · Sep 29, 2022 14:21

Secure Asset Management LLC raised its position in Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 52.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,165 shares of the oil and gas producer's stock after purchasing an additional 8,622 shares during the quarter. Secure Asset Management LLC's holdings in Enterprise Products Partners were worth $613,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. FinTrust Capital Advisors LLC boosted its position in Enterprise Products Partners by 38.9% during the first quarter. FinTrust Capital Advisors LLC now owns 1,429 shares of the oil and gas producer's stock valued at $36,000 after buying an additional 400 shares during the period. Mark Sheptoff Financial Planning LLC boosted its position in Enterprise Products Partners by 64.5% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 1,020 shares of the oil and gas producer's stock valued at $26,000 after buying an additional 400 shares during the period. Activest Wealth Management boosted its position in Enterprise Products Partners by 29.3% during the first quarter. Activest Wealth Management now owns 1,802 shares of the oil and gas producer's stock valued at $47,000 after buying an additional 408 shares during the period. Addison Capital Co boosted its position in Enterprise Products Partners by 2.6% during the first quarter. Addison Capital Co now owns 17,573 shares of the oil and gas producer's stock valued at $454,000 after buying an additional 438 shares during the period. Finally, Claraphi Advisory Network LLC boosted its position in Enterprise Products Partners by 1.9% during the second quarter. Claraphi Advisory Network LLC now owns 23,806 shares of the oil and gas producer's stock valued at $580,000 after buying an additional 447 shares during the period. 27.29% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

EPD has been the subject of several analyst reports. Raymond James upped their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 4th. UBS Group increased their target price on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, July 8th. US Capital Advisors reiterated a "buy" rating on shares of Enterprise Products Partners in a report on Wednesday, June 1st. Finally, TD Securities increased their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, August 4th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of "Moderate Buy" and a consensus price target of $30.00.

Enterprise Products Partners Stock Down 0.8 %

EPD traded down $0.19 on Thursday, hitting $23.86. The company had a trading volume of 110,159 shares, compared to its average volume of 4,899,344. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.87 and a quick ratio of 0.65. Enterprise Products Partners L.P. has a 52-week low of $20.42 and a 52-week high of $28.65. The stock has a fifty day simple moving average of $26.18 and a 200-day simple moving average of $25.95. The firm has a market capitalization of $52.00 billion, a P/E ratio of 10.83 and a beta of 1.15.

Enterprise Products Partners (NYSE:EPD – Get Rating) last announced its earnings results on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.01. Enterprise Products Partners had a net margin of 9.54% and a return on equity of 18.97%. The business had revenue of $16.06 billion during the quarter, compared to the consensus estimate of $11.96 billion. During the same quarter last year, the firm earned $0.51 earnings per share. The business's revenue for the quarter was up 69.9% on a year-over-year basis. As a group, equities analysts expect 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 Friday, August 12th. Shareholders of record on Friday, July 29th were paid a dividend of $0.475 per share. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 7.96%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 85.59%.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford bought 6,500 shares of the firm's stock in a transaction on Thursday, August 4th. The stock was acquired at an average price of $25.78 per share, with a total value of $167,570.00. Following the completion of the purchase, the director now owns 113,941 shares of the company's stock, valued at $2,937,398.98. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 37.50% of the company's stock.

About Enterprise Products Partners

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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.