Arete Wealth Advisors LLC Sells 11,985 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• Arete Wealth Advisors LLC sold 11,985 shares of Enterprise Products Partners L.P., reducing its holdings by 44.9% to approximately $503,000 in value.
• Enterprise Products Partners has a consensus rating of "Moderate Buy" from analysts, with a target price averaging $35.83.
• In the 1st quarter, Enterprise Products Partners increased its quarterly dividend to $0.545 per share, resulting in a dividend yield of 6.9%.

Arete Wealth Advisors LLC decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 44.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,720 shares of the oil and gas producer's stock after selling 11,985 shares during the period. Arete Wealth Advisors LLC's holdings in Enterprise Products Partners were worth $503,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in EPD. Diversified Trust Co increased its stake in Enterprise Products Partners by 13.7% in the first quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer's stock valued at $516,000 after purchasing an additional 1,821 shares in the last quarter. Aurora Private Wealth Inc. increased its position in Enterprise Products Partners by 3,044.1% in the 1st quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer's stock valued at $6,853,000 after buying an additional 194,336 shares in the last quarter. Cyndeo Wealth Partners LLC increased its position in Enterprise Products Partners by 20.0% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer's stock valued at $4,553,000 after buying an additional 22,202 shares in the last quarter. Forbes J M & Co. LLP acquired a new position in Enterprise Products Partners during the 1st quarter worth approximately $290,000. Finally, Nuveen LLC bought a new position in Enterprise Products Partners in the first quarter worth approximately $22,284,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EPD shares. TD Cowen started coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They issued a "hold" rating and a $33.00 price target for the company. Morgan Stanley reduced 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. Barclays decreased their target price on shares of 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. Scotiabank raised their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research report on Thursday, June 5th. Finally, Stifel Nicolaus decreased their price objective 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. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $35.83.

Insiders Place Their Bets

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the stock in a transaction on Tuesday, July 29th. The shares were purchased at an average price of $31.35 per share, with a total value of $470,250.00. Following the acquisition, the director directly owned 158,586 shares in the company, valued at approximately $4,971,671.10. The trade was a 10.45% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William C. Montgomery bought 16,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the purchase, 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 owned by company insiders.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $31.68 on Thursday. The stock has a 50 day moving average of $31.54 and a 200 day moving average of $31.69. The company has a market capitalization of $68.59 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.97 and a beta of 0.69. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63. 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 - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share 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 company had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the previous year, the company posted $0.64 EPS. Enterprise Products Partners's quarterly revenue was down 15.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced 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 dividend yield of 6.9%. The ex-dividend date was Thursday, July 31st. Enterprise Products Partners's dividend payout ratio (DPR) is currently 81.04%.

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.

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