Cyndeo Wealth Partners LLC Lowers Holdings in Enterprise Products Partners L.P. $EPD

Cyndeo Wealth Partners LLC cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,793 shares of the oil and gas producer’s stock after selling 2,565 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $4,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of EPD. Brighton Jones LLC lifted its stake in Enterprise Products Partners by 19.9% in the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after purchasing an additional 5,425 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Enterprise Products Partners by 3,314.0% in the 1st quarter. GAMMA Investing LLC now owns 17,070 shares of the oil and gas producer’s stock worth $583,000 after buying an additional 16,570 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of Enterprise Products Partners by 9.5% in the 1st quarter. Park Avenue Securities LLC now owns 34,236 shares of the oil and gas producer’s stock worth $1,169,000 after buying an additional 2,969 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Enterprise Products Partners by 376.5% in the 1st quarter. Farther Finance Advisors LLC now owns 43,600 shares of the oil and gas producer’s stock worth $1,492,000 after buying an additional 34,449 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new position in shares of Enterprise Products Partners in the 1st quarter worth $256,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Enterprise Products Partners

In other news, Director William C. Montgomery acquired 16,000 shares of the firm’s stock in a transaction on Wednesday, July 30th. The shares were purchased at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the transaction, the director owned 136,920 shares of the company’s stock, valued at $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was purchased at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the transaction, the director directly owned 158,586 shares of the company’s stock, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday. Morgan Stanley decreased their price target on shares of 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. TD Cowen assumed coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 price target on the stock. Barclays decreased their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, July 2nd. Finally, Scotiabank decreased their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, September 19th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Enterprise Products Partners Price Performance

EPD stock opened at $31.27 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. The firm’s fifty day moving average is $31.58 and its 200 day moving average is $31.42. The firm has a market cap of $67.70 billion, a P/E ratio of 11.62, a P/E/G ratio of 2.25 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last released 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 net margin of 10.71% and a return on equity of 19.81%. The business had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the business posted $0.64 EPS. Enterprise Products Partners’s revenue for the quarter was down 15.7% on a year-over-year basis. Research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a $0.545 dividend. 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 presently 81.04%.

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.