Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs reduced its stake in Enterprise Products Partners L.P. by 10.7%, now owning 18,968,518 shares valued at approximately $647.6 million.
• Several hedge funds, including Brighton Jones LLC and O Shaughnessy Asset Management LLC, have increased their positions in Enterprise Products Partners, with increases of 19.9% and 4.5% respectively.
• Enterprise Products recently declared a quarterly dividend of $0.545, up from $0.54, representing a 7.0% yield for investors.

Goldman Sachs Group Inc. lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 18,968,518 shares of the oil and gas producer's stock after selling 2,283,889 shares during the quarter. Goldman Sachs Group Inc. owned 0.88% of Enterprise Products Partners worth $647,585,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Security National Bank purchased a new position in Enterprise Products Partners during the 1st quarter valued at $30,000. Alpine Bank Wealth Management purchased a new position in Enterprise Products Partners during the 1st quarter valued at $31,000. N.E.W. Advisory Services LLC purchased a new position in Enterprise Products Partners during the 1st quarter valued at $34,000. National Bank of Canada FI boosted its holdings in Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 360 shares during the period. Finally, Colonial Trust Co SC boosted its holdings 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 acquiring an additional 314 shares during the period. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Stock Up 0.9%

Shares of NYSE EPD traded up $0.27 during mid-day trading on Friday, reaching $31.46. 5,434,247 shares of the company were exchanged, compared to its average volume of 4,556,419. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. The stock has a market cap of $68.23 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 1.81 and a beta of 0.66. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The firm has a 50-day moving average of $31.38 and a 200 day moving average of $31.94.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.88% and a net margin of 10.71%. The company had revenue of $11.36 billion for the quarter, compared to analysts' expectations of $15.24 billion. During the same quarter last year, the company earned $0.64 earnings per share. The company's revenue for the quarter was down 15.7% compared to the same quarter last year. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a dividend of $0.545 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $2.18 annualized dividend and a yield of 6.9%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio is currently 81.04%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on EPD shares. Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Barclays lowered their target price on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday, July 2nd. Citigroup lowered their target price 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. Scotiabank upped their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Thursday, June 5th. Finally, Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an "outperform" rating in a report on Friday, July 11th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of "Moderate Buy" and a consensus price target of $36.25.

Insider Activity

In other Enterprise Products Partners news, Director William C. Montgomery bought 16,000 shares of Enterprise Products Partners stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average cost of $31.55 per share, with a total value of $504,800.00. Following the transaction, the director directly owned 136,920 shares of the company's stock, valued at approximately $4,319,826. This represents a 13.23% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the transaction, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company's stock.

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.