Curi RMB Capital LLC Decreases Stock Holdings in Enterprise Products Partners L.P. $EPD

Key Points

• Curi RMB Capital LLC has reduced its position in Enterprise Products Partners L.P. by 26.7%, owning 54,554 shares valued at approximately $1.86 million.
• Directors John R. Rutherford and William C. Montgomery made significant purchases of the company's stock, increasing their positions by 10.45% and 13.23%, respectively.
• Enterprise Products Partners declared a quarterly dividend of $0.545 per share, marking an increase from its previous dividend, with a favorable yield of 6.9%.

Curi RMB Capital LLC decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 26.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,554 shares of the oil and gas producer's stock after selling 19,857 shares during the quarter. Curi RMB Capital LLC's holdings in Enterprise Products Partners were worth $1,862,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Advisors Asset Management Inc. raised its stake in Enterprise Products Partners by 33.7% during the first quarter. Advisors Asset Management Inc. now owns 164,588 shares of the oil and gas producer's stock valued at $5,619,000 after purchasing an additional 41,519 shares in the last quarter. AlphaQ Advisors LLC raised its stake in Enterprise Products Partners by 4.5% during the first quarter. AlphaQ Advisors LLC now owns 95,785 shares of the oil and gas producer's stock valued at $3,270,000 after purchasing an additional 4,163 shares in the last quarter. Promethium Advisors LLC raised its stake in Enterprise Products Partners by 3.2% during the first quarter. Promethium Advisors LLC now owns 56,640 shares of the oil and gas producer's stock valued at $1,934,000 after purchasing an additional 1,759 shares in the last quarter. EP Wealth Advisors LLC raised its stake in Enterprise Products Partners by 0.4% during the first quarter. EP Wealth Advisors LLC now owns 183,410 shares of the oil and gas producer's stock valued at $6,262,000 after purchasing an additional 766 shares in the last quarter. Finally, First Manhattan CO. LLC. bought a new position in Enterprise Products Partners during the first quarter valued at $13,832,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of analyst reports. Morgan Stanley cut their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 26th. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an "outperform" rating in a research report on Friday, July 11th. Stifel Nicolaus cut their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, July 29th. Scotiabank boosted their price objective 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, Barclays cut their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of "Moderate Buy" and an average price target of $35.83.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford acquired 15,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was bought 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 $4,971,671.10. The trade was a 10.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William C. Montgomery acquired 16,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average cost of $31.55 per share, with a total value of $504,800.00. Following the completion of the purchase, the director owned 136,920 shares of the company's stock, valued at $4,319,826. This trade 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 corporate insiders.

Enterprise Products Partners Trading Down 0.4%

Shares of EPD traded down $0.13 during trading hours on Friday, reaching $31.68. 5,019,068 shares of the company traded hands, compared to its average volume of 3,491,915. The firm has a market cap of $68.58 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.98 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. The stock's fifty day moving average price is $31.52 and its 200 day moving average price is $31.71.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business had revenue of $11.36 billion during the quarter, compared to analysts' expectations of $15.24 billion. During the same period last year, the company earned $0.64 earnings per share. The firm's revenue was down 15.7% compared to the same quarter last year. 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 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. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, July 31st. Enterprise Products Partners's 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.