Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by SouthState Corp

SouthState Corp lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 26.7% during the first quarter, HoldingsChannel.com reports. 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Beach Investment Counsel Inc. PA purchased a new stake in Enterprise Products Partners in the first quarter valued at $60,331,000. Fractal Investments LLC purchased a new stake in Enterprise Products Partners in the fourth quarter valued at $35,647,000. Thrivent Financial for Lutherans raised its position in Enterprise Products Partners by 46.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,214,611 shares of the oil and gas producer’s stock valued at $70,909,000 after purchasing an additional 1,019,294 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Enterprise Products Partners by 11.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,402,476 shares of the oil and gas producer’s stock valued at $140,598,000 after purchasing an additional 658,945 shares during the period. Finally, NorthCrest Asset Manangement LLC purchased a new stake in Enterprise Products Partners in the first quarter valued at $13,138,000. Institutional investors and hedge funds own 27.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on EPD shares. US Capital Advisors restated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, June 1st. Raymond James lifted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “strong-buy” rating in a research report on Thursday. Mizuho boosted their price objective on Enterprise Products Partners from $30.00 to $32.00 in a report on Tuesday, May 3rd. UBS Group boosted their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a report on Friday, July 8th. Finally, Morgan Stanley boosted their price objective on Enterprise Products Partners from $27.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, April 26th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $25.70 on Friday. The stock’s 50-day moving average is $25.65 and its two-hundred day moving average is $25.43. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.84 and a quick ratio of 0.67. Enterprise Products Partners L.P. has a 1-year low of $20.42 and a 1-year high of $28.65. The company has a market cap of $56.04 billion, a price-to-earnings ratio of 11.58 and a beta of 1.16.

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

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Stockholders 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 dividend yield of 7.39%. The ex-dividend date is Thursday, July 28th. Enterprise Products Partners’s dividend payout ratio is currently 85.59%.

Insider Transactions at Enterprise Products Partners

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

Enterprise Products Partners Company Profile

(Get Rating)

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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