Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Mill Creek Capital Advisors LLC

Key Points

• Mill Creek Capital Advisors LLC has reduced its stake in Enterprise Products Partners L.P. by 35.6%, selling 11,595 shares during the first quarter, leaving them with 20,938 shares valued at approximately $715,000.
• Enterprise Products Partners L.P. reported an EPS of $0.66 for the last quarter, missing analyst expectations, with revenue of $11.36 billion, down 15.7% compared to the previous year.
• The company has increased its quarterly dividend to $0.545 per share, with a current yield of 6.9% and a payout ratio of 81.04%.

Mill Creek Capital Advisors LLC lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 35.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,938 shares of the oil and gas producer's stock after selling 11,595 shares during the quarter. Mill Creek Capital Advisors LLC's holdings in Enterprise Products Partners were worth $715,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of EPD. Security National Bank acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $30,000. Alpine Bank Wealth Management acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $31,000. Colonial Trust Co SC boosted its holdings in shares of Enterprise Products Partners by 44.9% in 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 last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $34,000. Finally, Parvin Asset Management LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of research analyst reports. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Citigroup decreased their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. TD Cowen initiated coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 price target on the stock. Argus upgraded shares of Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Finally, Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.25.

Insider Buying and Selling at Enterprise Products Partners

In other news, 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 purchased at an average price of $31.55 per share, with a total value of $504,800.00. Following the purchase, 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 filing with the SEC, which can be accessed through this link. Also, Director John R. Rutherford purchased 15,000 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the purchase, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 32.60% of the company's stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $31.53 on Friday. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. The company has a market cap of $68.27 billion, a PE ratio of 11.72, a P/E/G ratio of 1.82 and a beta of 0.66. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The company's fifty day simple moving average is $31.41 and its 200-day simple moving average is $31.87.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $11.36 billion for the quarter, compared to analysts' expectations of $15.24 billion. During the same period last year, the firm earned $0.64 EPS. The business's quarterly revenue was down 15.7% on a year-over-year basis. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a dividend of $0.545 per share. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.18 annualized dividend and a yield of 6.9%. Enterprise Products Partners's payout ratio is presently 81.04%.

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.

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