Independent Advisor Alliance Trims Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Independent Advisor Alliance reduced its stake in Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,866 shares of the oil and gas producer’s stock after selling 2,298 shares during the period. Independent Advisor Alliance’s holdings in Enterprise Products Partners were worth $4,638,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Colonial Trust Co SC boosted its holdings in Enterprise Products Partners by 44.9% in the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 314 shares during the last quarter. Strategic Advisors LLC increased its position in Enterprise Products Partners by 3.5% in the first quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer’s stock worth $341,000 after buying an additional 337 shares in the last quarter. Full Sail Capital LLC raised its stake in Enterprise Products Partners by 3.9% during the 4th quarter. Full Sail Capital LLC now owns 9,081 shares of the oil and gas producer’s stock worth $285,000 after acquiring an additional 341 shares during the period. Keystone Wealth Services LLC lifted its stake in shares of Enterprise Products Partners by 2.6% during the 1st quarter. Keystone Wealth Services LLC now owns 13,937 shares of the oil and gas producer’s stock valued at $476,000 after buying an additional 349 shares in the last quarter. Finally, Duncan Williams Asset Management LLC lifted its position in shares of Enterprise Products Partners by 4.5% in the first quarter. Duncan Williams Asset Management LLC now owns 8,207 shares of the oil and gas producer’s stock valued at $280,000 after acquiring an additional 357 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $31.46 on Monday. The firm’s fifty day moving average is $31.38 and its two-hundred day moving average is $31.93. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.64 and a current ratio of 0.86. The firm has a market cap of $68.23 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.81 and a beta of 0.66. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPDGet Free Report) last issued its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The firm 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 19.88% and a net margin of 10.71%. 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 business earned $0.64 EPS. Research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be given a dividend of $0.545 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.54. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date is Thursday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.04%.

Insider Buying and Selling

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

Analysts Set New Price Targets

EPD has been the subject of a number of research reports. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Argus raised Enterprise Products Partners to a “strong-buy” rating in a research report on Monday, May 5th. Barclays decreased their price target on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, July 2nd. TD Cowen began coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a “hold” rating and a $33.00 price target on the stock. Finally, Stifel Nicolaus decreased 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 report on Tuesday, July 29th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average target price of $36.25.

View Our Latest Stock Analysis on Enterprise Products Partners

About Enterprise Products Partners

(Free Report)

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.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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