Keudell Morrison Wealth Management Sells 892 Shares of Enterprise Products Partners L.P. $EPD

Keudell Morrison Wealth Management lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,761 shares of the oil and gas producer’s stock after selling 892 shares during the period. Keudell Morrison Wealth Management’s holdings in Enterprise Products Partners were worth $427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of EPD. ING Groep NV bought a new stake in shares of Enterprise Products Partners in the 1st quarter valued at about $71,052,000. Alps Advisors Inc. grew its holdings in shares of Enterprise Products Partners by 5.0% during the 1st 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 during the period. JPMorgan Chase & Co. grew its stake in shares of Enterprise Products Partners by 65.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock worth $148,415,000 after buying an additional 1,717,768 shares during the last quarter. Northside Capital Management LLC purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter worth approximately $47,628,000. Finally, Truist Financial Corp grew its stake in shares of Enterprise Products Partners by 293.6% in the 1st quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock worth $68,927,000 after buying an additional 1,506,055 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EPD shares. Scotiabank cut their price target on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, September 19th. Barclays cut their target price on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 2nd. Stifel Nicolaus cut 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. TD Cowen started coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a “hold” rating and a $33.00 target price on the stock. Finally, Morgan Stanley cut their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Two research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.75.

Insiders Place Their Bets

In related news, Director William C. Montgomery acquired 16,000 shares of Enterprise Products Partners stock in a transaction on Wednesday, July 30th. The shares were bought at an average cost of $31.55 per share, with a total value of $504,800.00. Following the completion of the purchase, the director directly owned 136,920 shares of the company’s stock, valued at $4,319,826. The trade was a 13.23% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John R. Rutherford bought 15,000 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the purchase, the director owned 158,586 shares of the company’s stock, valued at approximately $4,971,671.10. The trade was a 10.45% increase in their position. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD stock opened at $31.65 on Friday. The company has a market cap of $68.53 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 2.25 and a beta of 0.64. 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 stock’s fifty day moving average price is $31.56 and its 200-day moving average price is $31.47.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The firm had revenue of $11.36 billion during the quarter, compared to analysts’ expectations of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a $0.545 dividend. The ex-dividend date was Thursday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.04%.

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.