Ballast Advisors LLC Trims Position in Enterprise Products Partners L.P. (NYSE:EPD)

Key Points

• Ballast Advisors LLC decreased its holdings in Enterprise Products Partners L.P. by 3.0%, making it the 9th largest position in their investment portfolio, now valued at approximately $10.24 million.
• Several institutional investors, including Texas Yale Capital Corp. and Cornerstone Advisory LLC, have recently increased their stakes in Enterprise Products Partners, indicating a broader interest in the company.
• Enterprise Products Partners announced a quarterly dividend increase to $0.545, reflecting a yield of 6.91% for investors, scheduled for payment on August 14th.

Ballast Advisors LLC cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 299,921 shares of the oil and gas producer's stock after selling 9,261 shares during the quarter. Enterprise Products Partners comprises approximately 3.3% of Ballast Advisors LLC's portfolio, making the stock its 9th biggest holding. Ballast Advisors LLC's holdings in Enterprise Products Partners were worth $10,239,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Alps Advisors Inc. raised its position in shares of Enterprise Products Partners by 5.0% during 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. Truist Financial Corp boosted its holdings in Enterprise Products Partners by 293.6% during the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer's stock worth $68,927,000 after buying an additional 1,506,055 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Enterprise Products Partners during the fourth quarter valued at about $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Enterprise Products Partners by 8.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock valued at $330,739,000 after buying an additional 851,188 shares in the last quarter. Finally, KDK Private Wealth Management LLC acquired a new position in Enterprise Products Partners in the 4th quarter valued at approximately $22,333,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Stifel Nicolaus reduced their target price on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday. Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. TD Cowen began coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They issued a "hold" rating and a $33.00 target price for the company. Scotiabank increased their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research report on Thursday, June 5th. Finally, Citigroup dropped their price objective 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. Five analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $36.25.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director John R. Rutherford bought 15,000 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were acquired at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the transaction, the director 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William C. Montgomery bought 16,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average price of $31.55 per share, with a total value of $504,800.00. Following the completion of the transaction, the director directly owned 136,920 shares of the company's stock, valued at $4,319,826. This trade represents a 13.23% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is owned by insiders.

Enterprise Products Partners Trading Down 0.4%

Enterprise Products Partners stock traded down $0.13 during mid-day trading on Thursday, reaching $30.79. 2,628,317 shares of the company traded hands, compared to its average volume of 4,766,821. The firm's 50 day moving average price is $31.40 and its 200 day moving average price is $32.07. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64. The firm has a market capitalization of $66.77 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 1.82 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $11.36 billion during the quarter, compared to analysts' expectations of $15.24 billion. Enterprise Products Partners had a return on equity of 19.88% 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 company earned $0.64 earnings per share. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a $0.545 dividend. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.08%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 80.15%.

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.