Teamwork Financial Advisors LLC Sells 1,033 Shares of Enterprise Products Partners L.P. $EPD

Teamwork Financial Advisors LLC reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 2.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,289 shares of the oil and gas producer’s stock after selling 1,033 shares during the period. Teamwork Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EPD. Brighton Jones LLC grew its stake in shares of Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after buying an additional 5,425 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Enterprise Products Partners by 24.3% during the 4th quarter. Northern Trust Corp now owns 287,545 shares of the oil and gas producer’s stock valued at $9,017,000 after acquiring an additional 56,286 shares in the last quarter. Ameriprise Financial Inc. grew its position in Enterprise Products Partners by 3.9% during the 4th quarter. Ameriprise Financial Inc. now owns 345,061 shares of the oil and gas producer’s stock worth $10,820,000 after acquiring an additional 13,111 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in Enterprise Products Partners by 58.9% in the 4th quarter. Nuveen Asset Management LLC now owns 726,562 shares of the oil and gas producer’s stock worth $22,785,000 after purchasing an additional 269,446 shares in the last quarter. Finally, Pathstone Holdings LLC raised its position in Enterprise Products Partners by 1.8% in the fourth quarter. Pathstone Holdings LLC now owns 310,037 shares of the oil and gas producer’s stock valued at $9,723,000 after purchasing an additional 5,386 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director William C. Montgomery acquired 16,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was bought at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the purchase, the director directly owned 136,920 shares of the company’s stock, valued at $4,319,826. The trade was a 13.23% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John R. Rutherford bought 15,000 shares of the business’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 purchase, the director owned 158,586 shares of the company’s stock, valued at $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Trading Down 0.6%

NYSE:EPD opened at $31.75 on Friday. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. 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 firm’s fifty day moving average is $31.56 and its 200-day moving average is $31.65. The firm has a market cap of $68.75 billion, a P/E ratio of 11.80, a P/E/G ratio of 2.00 and a beta of 0.69.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm earned $0.64 EPS. Enterprise Products Partners’s quarterly revenue was down 15.7% on a year-over-year basis. Equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. The ex-dividend date was Thursday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s dividend payout ratio is currently 81.04%.

Analysts Set New Price Targets

Several research firms have recently weighed in on EPD. 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. Morgan Stanley reduced 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 report on Tuesday, August 26th. Barclays dropped their price target on shares of 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. Scotiabank boosted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 5th. Finally, Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the company an “outperform” rating in a report on Friday, July 11th. 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.83.

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.