Patten & Patten Inc. TN Sells 623 Shares of Enterprise Products Partners L.P. $EPD

Patten & Patten Inc. TN decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 3.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,570 shares of the oil and gas producer’s stock after selling 623 shares during the quarter. Patten & Patten Inc. TN’s holdings in Enterprise Products Partners were worth $514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in EPD. ING Groep NV bought a new stake in Enterprise Products Partners in the 1st quarter worth approximately $71,052,000. Alps Advisors Inc. raised its holdings in Enterprise Products Partners by 5.0% during 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 buying an additional 1,967,188 shares during the period. JPMorgan Chase & Co. raised its holdings in Enterprise Products Partners by 65.3% during 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 buying an additional 1,717,768 shares during the period. Northside Capital Management LLC purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at $47,628,000. Finally, Truist Financial Corp raised its holdings in Enterprise Products Partners by 293.6% during the 1st quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock valued at $68,927,000 after buying an additional 1,506,055 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD stock opened at $30.27 on Friday. 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 business’s fifty day simple moving average is $31.54 and its two-hundred day simple moving average is $31.31. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The firm has a market cap of $65.54 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 2.17 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (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 the consensus estimate of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.Enterprise Products Partners’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. Analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

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 given a dividend of $0.545 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a yield of 7.2%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.04%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Scotiabank decreased their price target on 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. Barclays decreased their price target on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, July 2nd. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an “outperform” rating in a report on Friday, July 11th. TD Cowen assumed coverage on Enterprise Products Partners in a report on Monday, July 7th. They set a “hold” rating and a $33.00 price target on the stock. Finally, Stifel Nicolaus decreased their price target on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

Insider Transactions at Enterprise Products Partners

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

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.