Energy Income Partners LLC Sells 1,264,634 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• Energy Income Partners LLC has reduced its stake in Enterprise Products Partners L.P. by 9.0%, now owning approximately $436.64 million worth of shares.
• The company recently announced a quarterly dividend increase to $0.545 per share, representing a yield of 6.8%.
• Analysts have adjusted price targets for Enterprise Products Partners, with a consensus target of $35.83, reflecting a "Moderate Buy" rating overall.

Energy Income Partners LLC cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 9.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 12,789,579 shares of the oil and gas producer's stock after selling 1,264,634 shares during the period. Enterprise Products Partners accounts for about 8.4% of Energy Income Partners LLC's holdings, making the stock its biggest position. Energy Income Partners LLC owned 0.59% of Enterprise Products Partners worth $436,636,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Colonial Trust Co SC grew its stake in shares of Enterprise Products Partners by 44.9% during the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock valued at $32,000 after buying an additional 314 shares during the period. Strategic Advisors LLC boosted its position in Enterprise Products Partners by 3.5% in the 1st quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer's stock valued at $341,000 after buying an additional 337 shares during the last quarter. Per Stirling Capital Management LLC. boosted its position in Enterprise Products Partners by 1.5% in the 1st quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer's stock valued at $804,000 after buying an additional 339 shares during the last quarter. Full Sail Capital LLC raised its stake in shares of Enterprise Products Partners by 3.9% in the 4th quarter. Full Sail Capital LLC now owns 9,081 shares of the oil and gas producer's stock valued at $285,000 after purchasing an additional 341 shares in the last quarter. Finally, Keystone Wealth Services LLC raised its stake in shares of Enterprise Products Partners by 2.6% in the 1st quarter. Keystone Wealth Services LLC now owns 13,937 shares of the oil and gas producer's stock valued at $476,000 after purchasing an additional 349 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Down 0.5%

Enterprise Products Partners stock traded down $0.15 during midday trading on Wednesday, reaching $31.86. The stock had a trading volume of 2,814,892 shares, compared to its average volume of 4,659,780. The firm's fifty day simple moving average is $31.47 and its two-hundred day simple moving average is $31.75. The firm has a market cap of $68.97 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.87 and a beta of 0.69. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same period last year, the business earned $0.64 EPS. The company's quarterly revenue was down 15.7% on a year-over-year basis. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were issued a $0.545 dividend. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date was Thursday, July 31st. This represents a $2.18 annualized dividend and a yield of 6.8%. Enterprise Products Partners's payout ratio is 81.04%.

Insider Buying and Selling at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were bought at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director owned 158,586 shares in the company, valued at $4,971,671.10. This trade represents a 10.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William C. Montgomery acquired 16,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were bought at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the acquisition, the director owned 136,920 shares in the company, valued at approximately $4,319,826. This trade represents a 13.23% increase in their position. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company's stock.

Analyst Ratings Changes

EPD has been the topic of several research reports. Morgan Stanley dropped 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 note on Tuesday, August 26th. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the stock an "outperform" rating in a research note on Friday, July 11th. Citigroup dropped their price objective 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. TD Cowen initiated coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They set a "hold" rating and a $33.00 price objective on the stock. Finally, Barclays dropped 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 note on Wednesday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.83.

Enterprise Products Partners Company 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.