Enterprise Products Partners L.P. $EPD Shares Sold by RDA Financial Network

RDA Financial Network decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 21,076 shares of the oil and gas producer’s stock after selling 413 shares during the period. RDA Financial Network’s holdings in Enterprise Products Partners were worth $654,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Alps Advisors Inc. lifted its holdings in shares of Enterprise Products Partners by 5.0% in the first 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Enterprise Products Partners by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock valued at $375,662,000 after buying an additional 457,045 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of Enterprise Products Partners by 11.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer’s stock valued at $182,832,000 after buying an additional 580,850 shares during the period. BROOKFIELD Corp ON lifted its holdings in shares of Enterprise Products Partners by 2.8% during the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock valued at $160,416,000 after purchasing an additional 128,545 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Enterprise Products Partners by 65.3% during the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock valued at $148,415,000 after purchasing an additional 1,717,768 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insider Transactions at Enterprise Products Partners

In other news, Director William C. Montgomery purchased 16,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $31.55 per share, with a total value of $504,800.00. Following the purchase, the director directly owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. This trade represents a 13.23% 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 John R. Rutherford purchased 15,000 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the purchase, 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 disclosure for this purchase can be found here. 32.60% of the stock is owned by company insiders.

Enterprise Products Partners Stock Down 0.6%

Shares of Enterprise Products Partners stock opened at $31.75 on Friday. The stock has a 50-day moving average price of $31.56 and a 200 day moving average price of $31.65. The company 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. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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). 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%.The firm’s revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a $0.545 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.18 annualized dividend and a yield of 6.9%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays reduced their target price on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. TD Cowen assumed coverage on Enterprise Products Partners in a report on Monday, July 7th. They set a “hold” rating and a $33.00 target price for the company. Stifel Nicolaus reduced their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, July 29th. Morgan Stanley reduced their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. Finally, Mizuho set a $38.00 target price on Enterprise Products Partners and gave the company an “outperform” rating in a report on Friday, July 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company 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.