Enterprise Products Partners L.P. $EPD Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lowered its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 7.8% during the second quarter, HoldingsChannel.com reports. The fund owned 39,420 shares of the oil and gas producer’s stock after selling 3,358 shares during the period. International Assets Investment Management LLC’s holdings in Enterprise Products Partners were worth $1,222,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of EPD. Brooklyn Investment Group acquired a new stake in shares of Enterprise Products Partners in the 1st quarter worth about $27,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $28,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $29,000. Security National Bank bought a new position in Enterprise Products Partners in the 1st quarter worth approximately $30,000. Finally, Alpine Bank Wealth Management bought a new position in Enterprise Products Partners in the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

NYSE EPD opened at $30.21 on Monday. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The stock’s 50-day moving average price is $31.52 and its two-hundred day moving average price is $31.25. The company has a market cap of $65.42 billion, a PE ratio of 11.23, a PEG ratio of 2.15 and a beta of 0.64. 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 (NYSE:EPD) last released its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm’s revenue was down 15.7% compared to the same quarter last year. On average, analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s payout ratio is presently 81.04%.

Insider Activity

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Barclays reduced their price target on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. Morgan Stanley decreased their price objective on shares of 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. Scotiabank cut their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, September 19th. TD Cowen assumed coverage on Enterprise Products Partners in a research report on Monday, July 7th. They set a “hold” rating and a $33.00 price target on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.82.

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.