Valmark Advisers Inc. Has $265,000 Position in Enterprise Products Partners L.P. $EPD

Valmark Advisers Inc. reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,541 shares of the oil and gas producer’s stock after selling 774 shares during the period. Valmark Advisers Inc.’s holdings in Enterprise Products Partners were worth $265,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. ING Groep NV acquired a new position in Enterprise Products Partners during the 1st quarter worth approximately $71,052,000. Alps Advisors Inc. boosted its holdings in 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in 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 in the last quarter. Northside Capital Management LLC bought a new position in Enterprise Products Partners in the second quarter worth approximately $47,628,000. Finally, Truist Financial Corp boosted its holdings in Enterprise Products Partners by 293.6% in the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock worth $68,927,000 after acquiring an additional 1,506,055 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $30.81 on Friday. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The stock’s 50 day moving average price is $31.58 and its 200-day moving average price is $31.40. The company has a market capitalization of $66.70 billion, a PE ratio of 11.45, a PEG ratio of 2.22 and a beta of 0.64. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced 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 analysts’ expectations of $15.24 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. Enterprise Products Partners’s quarterly revenue was down 15.7% on a year-over-year basis. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on EPD shares. Stifel Nicolaus cut their price target on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, July 29th. Morgan Stanley cut 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. 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. Barclays cut 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.75.

Insider Buying and Selling

In related news, Director John R. Rutherford purchased 15,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average price of $31.35 per share, with a total value of $470,250.00. Following the acquisition, the director owned 158,586 shares of the company’s stock, valued at $4,971,671.10. This trade represents a 10.45% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William C. Montgomery purchased 16,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the acquisition, the director directly owned 136,920 shares in the company, valued at $4,319,826. This trade represents a 13.23% increase in their position. The disclosure for this purchase can be found here. Insiders own 32.60% of the company’s stock.

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.