Stock Yards Bank & Trust Co. Trims Stock Holdings in Enterprise Products Partners L.P. $EPD

Stock Yards Bank & Trust Co. trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,864 shares of the oil and gas producer’s stock after selling 1,825 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Enterprise Products Partners were worth $1,546,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Enterprise Products Partners in the 1st quarter valued at approximately $27,000. Wealth Preservation Advisors LLC purchased a new stake in Enterprise Products Partners in the 1st quarter worth approximately $28,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners in the 2nd quarter worth approximately $29,000. Security National Bank purchased a new stake in Enterprise Products Partners in the 1st quarter worth approximately $30,000. Finally, Alpine Bank Wealth Management purchased a new stake in Enterprise Products Partners in the 1st quarter worth approximately $31,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on EPD shares. TD Cowen started coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They issued a “hold” rating and a $33.00 target price on the stock. Morgan Stanley lowered their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. Barclays lowered their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 2nd. Finally, Stifel Nicolaus lowered their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $35.75.

Insider Transactions at Enterprise Products Partners

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

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $31.65 on Friday. The firm’s fifty day moving average price is $31.56 and its 200-day moving average price is $31.47. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The stock has a market cap of $68.53 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 2.25 and a beta of 0.64. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week 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 analysts’ consensus estimates of $0.67 by ($0.01). The business had revenue of $11.36 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 EPS. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were 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 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend was Thursday, July 31st. Enterprise Products Partners’s payout ratio is 81.04%.

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.