Enterprise Products Partners L.P. $EPD Position Trimmed by Chickasaw Capital Management LLC

Key Points

• Chickasaw Capital trimmed its EPD stake — the firm sold 155,574 shares in Q4 (‑3.1%), leaving 4,805,291 shares worth about $154.06 million, representing ~0.22% of Enterprise Products Partners and ~6.3% of Chickasaw’s portfolio.
• Insiders increased holdings — Director John R. Rutherford bought 15,000 shares at $32.09 and CEO Aj Teague bought 2,665 shares at $37.55, and insiders now own 32.60% of the company.
• Analyst outlook is mixed — MarketBeat’s consensus rating is a “Hold” with a $37.14 price target, though several firms recently raised targets (e.g., Wells Fargo $40, JPMorgan $39) amid varied buy/hold/sell ratings.

Chickasaw Capital Management LLC trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 3.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,805,291 shares of the oil and gas producer's stock after selling 155,574 shares during the period. Enterprise Products Partners makes up approximately 6.3% of Chickasaw Capital Management LLC's holdings, making the stock its 8th largest position. Chickasaw Capital Management LLC owned approximately 0.22% of Enterprise Products Partners worth $154,058,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in EPD. PMV Capital Advisers LLC purchased a new stake in shares of Enterprise Products Partners in the 4th quarter worth approximately $25,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the third quarter valued at $31,000. Abich Financial Wealth Management LLC bought a new stake in Enterprise Products Partners in the third quarter worth $32,000. Texas Capital Bancshares Inc TX bought a new stake in Enterprise Products Partners in the third quarter worth $32,000. Finally, Financial Consulate Inc. purchased a new stake in shares of Enterprise Products Partners in the third quarter worth $33,000. 26.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Morgan Stanley raised their price target on Enterprise Products Partners from $34.00 to $38.00 and gave the company an "underweight" rating in a report on Wednesday, March 18th. Weiss Ratings reissued a "buy (b)" rating on shares of Enterprise Products Partners in a research report on Thursday, January 22nd. The Goldman Sachs Group restated a "neutral" rating and set a $32.00 price objective on shares of Enterprise Products Partners in a research note on Friday, December 19th. Wells Fargo & Company lifted their target price on shares of Enterprise Products Partners from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, March 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of Enterprise Products Partners from $35.00 to $39.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $37.14.

Insider Buying and Selling

In related news, Director John R. Rutherford bought 15,000 shares of the company's stock in a transaction that occurred on Monday, December 29th. The shares were bought at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the acquisition, the director owned 173,586 shares of the company's stock, valued at $5,570,374.74. This trade represents a 9.46% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Aj Teague bought 2,665 shares of the business's stock in a transaction on Friday, March 20th. The stock was bought at an average cost of $37.55 per share, with a total value of $100,070.75. Following the transaction, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. This trade represents a 3.56% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 32.60% of the company's stock.

Enterprise Products Partners Stock Up 1.5%

EPD stock opened at $38.13 on Tuesday. The stock has a market capitalization of $82.43 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.50 and a beta of 0.59. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $38.22. The business has a fifty day moving average price of $35.45 and a 200-day moving average price of $33.00.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, topping the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The company had revenue of $13.79 billion during the quarter, compared to the consensus estimate of $12.44 billion. During the same period last year, the company earned $0.74 EPS. Enterprise Products Partners's revenue for the quarter was down 2.9% on a year-over-year basis. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $0.55 dividend. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Friday, January 30th. Enterprise Products Partners's dividend payout ratio (DPR) is presently 82.71%.

About Enterprise Products Partners

Enterprise Products Partners L.P. NYSE: EPD is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.