D.A. Davidson & CO. Lowers Holdings in Enterprise Products Partners L.P. $EPD

D.A. Davidson & CO. lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 489,495 shares of the oil and gas producer’s stock after selling 6,414 shares during the quarter. D.A. Davidson & CO.’s holdings in Enterprise Products Partners were worth $15,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Alps Advisors Inc. raised its position in shares of Enterprise Products Partners by 5.0% in 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 purchasing an additional 1,967,188 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Enterprise Products Partners by 4.3% in 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 buying an additional 457,045 shares during the last quarter. Chickasaw Capital Management LLC raised 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 worth $171,022,000 after buying an additional 81,135 shares during the last quarter. Hamlin Capital Management LLC raised its position in Enterprise Products Partners by 1.8% in the 2nd quarter. Hamlin Capital Management LLC now owns 4,995,047 shares of the oil and gas producer’s stock worth $154,896,000 after buying an additional 89,987 shares during the last quarter. Finally, BROOKFIELD Corp ON raised its position in Enterprise Products Partners by 2.8% in the 1st quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock worth $160,416,000 after buying an additional 128,545 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley decreased their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. TD Cowen started coverage on Enterprise Products Partners in a research report on Monday, July 7th. They issued a “hold” rating and a $33.00 target price for the company. Finally, Stifel Nicolaus reduced their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.82.

Enterprise Products Partners Price Performance

NYSE EPD opened at $31.03 on Thursday. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. The firm has a market capitalization of $67.19 billion, a P/E ratio of 11.53, a PEG ratio of 2.19 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. The company has a 50-day moving average price of $31.48 and a 200-day moving average price of $31.24.

Enterprise Products Partners (NYSE:EPD) last released its quarterly 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). The business had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. Enterprise Products Partners’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 EPS. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

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

Insider Buying and Selling

In related news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was bought 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 in the company, valued at $4,971,671.10. The trade was a 10.45% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 bought at an average price of $31.55 per share, with a total value of $504,800.00. Following the completion of the purchase, the director 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.

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.