Blair William & Co. IL Has $28.41 Million Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Key Points

• Blair William & Co. IL has reduced its stake in Enterprise Products Partners by 1.8% during the first quarter, holding approximately $28.41 million worth of shares after selling 15,571 shares.
• Recent insider transactions include purchase of shares by directors, with investments such as 16,000 shares by William C. Montgomery and 15,000 shares by John R. Rutherford, indicating confidence in the company's future.
• Enterprise Products Partners has announced a quarterly dividend of $0.545, leading to an annualized dividend of 7.1% yield, up from the previous $0.54, reflecting the company's commitment to returning value to shareholders.

Blair William & Co. IL decreased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 832,249 shares of the oil and gas producer's stock after selling 15,571 shares during the quarter. Blair William & Co. IL's holdings in Enterprise Products Partners were worth $28,413,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Alps Advisors Inc. increased its stake in 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 acquiring an additional 1,967,188 shares during the period. Truist Financial Corp boosted its position in Enterprise Products Partners by 293.6% in the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer's stock valued at $68,927,000 after buying an additional 1,506,055 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Enterprise Products Partners in the fourth quarter valued at about $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Enterprise Products Partners by 8.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock valued at $330,739,000 after buying an additional 851,188 shares in the last quarter. Finally, KDK Private Wealth Management LLC acquired a new position in Enterprise Products Partners in the fourth quarter valued at about $22,333,000. Institutional investors own 26.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EPD. Scotiabank boosted 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. Citigroup decreased their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the company an "outperform" rating in a research note on Friday, July 11th. Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Finally, Barclays decreased their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $36.25.

Insider Buying and Selling

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction on 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 acquisition, the director directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William C. Montgomery bought 16,000 shares of Enterprise Products Partners stock in a transaction on Wednesday, July 30th. The shares were acquired at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the acquisition, the director directly owned 136,920 shares in the company, valued at approximately $4,319,826. The trade was 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 corporate insiders.

Enterprise Products Partners Stock Performance

Shares of EPD traded down $0.16 during midday trading on Tuesday, reaching $30.87. The stock had a trading volume of 1,064,568 shares, compared to its average volume of 4,744,279. The firm has a 50 day simple moving average of $31.38 and a 200-day simple moving average of $32.00. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98. The firm has a market cap of $66.96 billion, a PE ratio of 11.50, a P/E/G ratio of 1.77 and a beta of 0.66. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data 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 return on equity of 19.88% and a net margin of 10.71%. The business had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter last year, the firm earned $0.64 EPS. Enterprise Products Partners's revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a dividend of $0.545 per share. The ex-dividend date is Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a yield of 7.1%. 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%.

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.