Enterprise Products Partners L.P. $EPD Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 612,057 shares of the oil and gas producer's stock after selling 12,862 shares during the quarter. Charles Schwab Investment Management Inc.'s holdings in Enterprise Products Partners were worth $20,896,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Diversified Trust Co lifted its position in shares of 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 acquiring an additional 1,821 shares in the last quarter. Aurora Private Wealth Inc. raised its holdings in shares of 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 worth $6,853,000 after purchasing an additional 194,336 shares during the period. Cyndeo Wealth Partners LLC raised its holdings in Enterprise Products Partners by 20.0% in the first 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 during the period. Forbes J M & Co. LLP purchased a new position in shares of Enterprise Products Partners in the 1st quarter valued at $290,000. Finally, Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth about $1,146,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on EPD shares. TD Cowen initiated coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a "hold" rating and a $33.00 target price for the company. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Scotiabank upped their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 5th. Finally, Citigroup reduced their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of "Moderate Buy" and a consensus price target of $36.25.

Insider Activity

In other Enterprise Products Partners news, Director John R. Rutherford acquired 15,000 shares of Enterprise Products Partners stock in a transaction dated Tuesday, July 29th. The stock was bought at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the transaction, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William C. Montgomery acquired 16,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the purchase, 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. Company insiders own 32.60% of the company's stock.

Enterprise Products Partners Stock Up 0.3%

EPD stock opened at $31.6150 on Friday. The firm's 50-day moving average is $31.37 and its two-hundred day moving average is $31.83. 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 company has a market capitalization of $68.45 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 1.82 and a beta of 0.66. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.Enterprise Products Partners's revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. On average, 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date 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.

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