Gamco Investors INC. ET AL Has $6.99 Million Stock Position in Enterprise Products Partners L.P. $EPD

Gamco Investors INC. ET AL reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 204,773 shares of the oil and gas producer’s stock after selling 2,038 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Enterprise Products Partners were worth $6,991,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of Enterprise Products Partners during the first quarter worth approximately $27,000. Security National Bank bought a new stake in Enterprise Products Partners in the 1st quarter valued at $30,000. Alpine Bank Wealth Management acquired a new position in Enterprise Products Partners in the 1st quarter valued at $31,000. N.E.W. Advisory Services LLC bought a new position in Enterprise Products Partners during the 1st quarter worth $34,000. Finally, Colonial Trust Co SC increased its position in Enterprise Products Partners by 44.9% during the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 314 shares during the period. Institutional investors own 26.07% of the company’s stock.

Insider Activity at Enterprise Products Partners

In related news, Director William C. Montgomery purchased 16,000 shares of the stock in a transaction dated 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 completion of the acquisition, the director owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. This represents a 13.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director owned 158,586 shares in the company, valued at $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is owned by corporate insiders.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $31.65 on Thursday. The stock’s 50-day simple moving average is $31.39 and its 200 day simple moving average is $31.79. The firm has a market capitalization of $68.52 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.83 and a beta of 0.66. 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 L.P. has a twelve month low of $27.77 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued 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). The business had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm’s revenue was down 15.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a dividend of $0.545 per share. The ex-dividend date was Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s dividend payout ratio is currently 81.04%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EPD shares. Barclays reduced their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. Argus raised shares of Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Citigroup lowered their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Finally, Morgan Stanley reduced their price target on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $35.83.

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.