Enterprise Products Partners L.P. $EPD Stock Holdings Reduced by Tortoise Capital Advisors L.L.C.

Key Points

• Tortoise Capital Advisors L.L.C. reduced its stake in Enterprise Products Partners L.P. by 1.3%, now holding approximately 15.4 million shares, which represents 6.4% of their total portfolio.
• Analysts have mixed views on EPD, with Stifel Nicolaus and Citigroup lowering their price targets to $35, while Argus upgraded it to a "strong-buy" rating.
• Enterprise Products Partners declared a quarterly dividend of $0.545 per share, marking a slight increase from the previous dividend amount and yielding 6.9% annually.

Tortoise Capital Advisors L.L.C. lowered its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,446,929 shares of the oil and gas producer's stock after selling 195,593 shares during the quarter. Enterprise Products Partners makes up approximately 6.4% of Tortoise Capital Advisors L.L.C.'s holdings, making the stock its 7th biggest position. Tortoise Capital Advisors L.L.C. owned about 0.71% of Enterprise Products Partners worth $527,358,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in shares of Enterprise Products Partners during the 1st quarter worth about $27,000. Security National Bank bought a new stake in shares of Enterprise Products Partners during the 1st quarter worth about $30,000. Alpine Bank Wealth Management bought a new stake in shares of Enterprise Products Partners during the 1st quarter worth about $31,000. N.E.W. Advisory Services LLC bought a new stake in shares of Enterprise Products Partners during the 1st quarter worth about $34,000. Finally, Colonial Trust Co SC boosted its stake in 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 purchasing an additional 314 shares during the period. Institutional investors own 26.07% of the company's stock.

Insiders Place Their Bets

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the company's stock in a transaction that occurred 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 directly owned 158,586 shares of the company's stock, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director William C. Montgomery purchased 16,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average cost of $31.55 per share, with a total value of $504,800.00. Following the completion of the acquisition, the director directly owned 136,920 shares in the company, valued at approximately $4,319,826. This represents 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.

Analyst Upgrades and Downgrades

EPD has been the topic of several recent analyst reports. Stifel Nicolaus dropped their price target on 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. Citigroup cut their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, TD Cowen started coverage on Enterprise Products Partners in a report on Monday, July 7th. They set a "hold" rating and a $33.00 price target for the company. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $36.25.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $31.6150 on Friday. The stock has a 50 day moving average of $31.37 and a two-hundred day moving average of $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. 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 market capitalization of $68.45 billion, a P/E ratio of 11.75, a P/E/G ratio of 1.82 and a beta of 0.66.

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 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 previous year, the company posted $0.64 earnings per share. The company's quarterly revenue was down 15.7% on a year-over-year basis. As a group, 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 declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were issued a dividend of $0.545 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's payout ratio is 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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