IFP Advisors Inc Sells 59,010 Shares of Enterprise Products Partners L.P. $EPD

IFP Advisors Inc lowered its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 62.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 36,058 shares of the oil and gas producer’s stock after selling 59,010 shares during the quarter. IFP Advisors Inc’s holdings in Enterprise Products Partners were worth $1,118,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. ING Groep NV bought a new position in Enterprise Products Partners in the first quarter worth approximately $71,052,000. Alps Advisors Inc. increased its holdings 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 valued at $1,410,891,000 after acquiring an additional 1,967,188 shares during the period. JPMorgan Chase & Co. increased its holdings 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 valued at $148,415,000 after acquiring an additional 1,717,768 shares during the period. Northside Capital Management LLC purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter worth $47,628,000. Finally, Truist Financial Corp boosted its position in Enterprise Products Partners by 293.6% during the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock valued at $68,927,000 after purchasing an additional 1,506,055 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery purchased 16,000 shares of the 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 acquisition, the director owned 136,920 shares in the company, valued at $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John R. Rutherford bought 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of 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 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 Price Performance

NYSE EPD opened at $30.81 on Monday. The company has a market cap of $66.70 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 2.19 and a beta of 0.64. 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 $31.58 and its 200 day moving average price is $31.37. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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 net margin of 10.71% and a return on equity of 19.81%. The firm had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period in the prior year, the company posted $0.64 earnings per share. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 7.1%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s payout ratio is presently 81.04%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Morgan Stanley decreased their target price on shares of 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. Stifel Nicolaus lowered their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, July 29th. TD Cowen assumed coverage on Enterprise Products Partners in a research report on Monday, July 7th. They set a “hold” rating and a $33.00 price target on the stock. Finally, Barclays decreased their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.75.

Enterprise Products Partners Company 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.