SouthState Corp Sells 1,600 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

SouthState Corp lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 26.7% during 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 4,400 shares of the oil and gas producer’s stock after selling 1,600 shares during the quarter. SouthState Corp’s holdings in Enterprise Products Partners were worth $114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in EPD. PYA Waltman Capital LLC bought a new stake in Enterprise Products Partners during the fourth quarter valued at about $31,000. Fairfield Bush & CO. acquired a new stake in Enterprise Products Partners in the first quarter worth about $31,000. Nauset Wealth Management. LLC acquired a new stake in Enterprise Products Partners in the first quarter worth about $32,000. Godsey & Gibb Associates acquired a new stake in Enterprise Products Partners in the fourth quarter worth about $36,000. Finally, FinTrust Capital Advisors LLC boosted its holdings in Enterprise Products Partners by 38.9% in the first quarter. FinTrust Capital Advisors LLC now owns 1,429 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 27.29% of the company’s stock.

Enterprise Products Partners Stock Down 0.1 %

Shares of EPD stock opened at $25.70 on Friday. The stock has a 50 day moving average of $25.65 and a 200 day moving average of $25.43. The company has a current ratio of 0.84, a quick ratio of 0.67 and a debt-to-equity ratio of 1.01. The stock has a market cap of $56.04 billion, a P/E ratio of 11.58 and a beta of 1.16. Enterprise Products Partners L.P. has a twelve month low of $20.42 and a twelve month high of $28.65.

Enterprise Products Partners (NYSE:EPDGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.01. The company had revenue of $16.06 billion during the quarter, compared to analysts’ expectations of $11.96 billion. Enterprise Products Partners had a return on equity of 19.08% and a net margin of 9.54%. Enterprise Products Partners’s quarterly revenue was up 69.9% on a year-over-year basis. During the same period last year, the business earned $0.51 earnings per share. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.5 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be given a dividend of $0.475 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a yield of 7.39%. The ex-dividend date of this dividend is Thursday, July 28th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 85.59%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EPD. Mizuho raised their price target on Enterprise Products Partners from $30.00 to $32.00 in a report on Tuesday, May 3rd. Truist Financial raised their price target on Enterprise Products Partners from $27.00 to $30.00 in a report on Tuesday, May 3rd. TD Securities raised their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley raised their price target on Enterprise Products Partners from $27.00 to $31.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 26th. Finally, US Capital Advisors restated a “buy” rating on shares of Enterprise Products Partners in a research note on Wednesday, June 1st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average target price of $30.00.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director Carin Marcy Barth acquired 19,050 shares of the business’s stock in a transaction dated Friday, June 24th. The stock was acquired at an average cost of $23.64 per share, for a total transaction of $450,342.00. Following the completion of the transaction, the director now directly owns 19,050 shares of the company’s stock, valued at $450,342. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Enterprise Products Partners news, Director John R. Rutherford acquired 6,500 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was acquired at an average cost of $25.78 per share, for a total transaction of $167,570.00. Following the completion of the transaction, the director now directly owns 113,941 shares of the company’s stock, valued at $2,937,398.98. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carin Marcy Barth acquired 19,050 shares of the business’s stock in a transaction dated Friday, June 24th. The stock was acquired at an average price of $23.64 per share, with a total value of $450,342.00. Following the completion of the transaction, the director now directly owns 19,050 shares of the company’s stock, valued at $450,342. The disclosure for this purchase can be found here. 37.50% of the stock is owned by company insiders.

Enterprise Products Partners Profile

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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. The company operates through 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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