Fractal Investments LLC Decreases Stock Position in Enterprise Products Partners L.P. $EPD

Key Points

• Fractal Investments LLC has reduced its stake in Enterprise Products Partners by 6.8%, now holding 1,937,243 shares worth approximately $60 million, making EPD 8.6% of its investment portfolio.
• In the 1st quarter, several institutional investors, including JPMorgan Chase & Co., significantly increased their positions in EPD shares, indicating strong interest in the stock among large investors.
• Despite a recent earnings miss and a decline in revenue, Enterprise Products Partners announced a slight increase in its quarterly dividend to $0.545 per share, reflecting its commitment to returning value to shareholders.

Fractal Investments LLC cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 6.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,937,243 shares of the oil and gas producer's stock after selling 141,946 shares during the quarter. Enterprise Products Partners comprises approximately 8.6% of Fractal Investments LLC's portfolio, making the stock its 4th biggest holding. Fractal Investments LLC owned approximately 0.09% of Enterprise Products Partners worth $60,074,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. ING Groep NV purchased a new position in shares of Enterprise Products Partners in the 1st quarter worth about $71,052,000. Alps Advisors Inc. raised its holdings in shares of Enterprise Products Partners by 5.0% in the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock worth $1,410,891,000 after purchasing an additional 1,967,188 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Enterprise Products Partners by 65.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer's stock worth $148,415,000 after purchasing an additional 1,717,768 shares during the period. Truist Financial Corp raised its holdings in shares of Enterprise Products Partners by 293.6% during the 1st 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 during the period. Finally, Walnut Private Equity Partners LLC purchased a new stake in shares of Enterprise Products Partners during the 1st quarter valued at about $24,069,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Enterprise Products Partners news, Director William C. Montgomery acquired 16,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average price of $31.55 per share, with a total value of $504,800.00. Following the transaction, the director 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John R. Rutherford purchased 15,000 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was purchased at an average cost of $31.35 per share, with a total value of $470,250.00. Following the acquisition, the director 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 currently owned by insiders.

Enterprise Products Partners Stock Down 0.6%

Shares of NYSE:EPD traded down $0.18 on Friday, reaching $31.75. The company had a trading volume of 3,358,988 shares, compared to its average volume of 3,135,895. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The stock has a 50-day moving average price of $31.56 and a 200 day moving average price of $31.65. The stock has a market capitalization of $68.75 billion, a P/E ratio of 11.80, a P/E/G ratio of 1.99 and a beta of 0.69. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period in the prior year, the firm earned $0.64 EPS. Enterprise Products Partners's quarterly revenue was down 15.7% on a year-over-year basis. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS 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 given a dividend of $0.545 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's payout ratio is presently 81.04%.

Analyst Ratings Changes

EPD has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Morgan Stanley dropped their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 26th. TD Cowen started coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 target price on the stock. Barclays lowered their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Finally, Scotiabank lifted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.