Enterprise Products Partners L.P. $EPD Position Cut by Epoch Investment Partners Inc.

Key Points

• Epoch Investment Partners Inc. reduced its holdings in Enterprise Products Partners L.P. by 5.8% in the first quarter, retaining ownership of approximately $50.38 million worth of shares after selling 91,689 shares.
• Enterprise Products Partners recently increased its quarterly dividend to $0.545 per share, resulting in a yield of 6.9%, marking a boost from its previous quarterly dividend.
• The company reported a miss in EPS for the last quarter, posting $0.66 against analyst expectations of $0.67, with revenue significantly down 15.7% year-over-year.

Epoch Investment Partners Inc. decreased its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,475,705 shares of the oil and gas producer's stock after selling 91,689 shares during the period. Epoch Investment Partners Inc. owned approximately 0.07% of Enterprise Products Partners worth $50,381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. FORA Capital LLC purchased a new stake in shares of Enterprise Products Partners in the first quarter worth about $1,272,000. WCG Wealth Advisors LLC boosted its position in shares of Enterprise Products Partners by 99.9% in the first quarter. WCG Wealth Advisors LLC now owns 67,168 shares of the oil and gas producer's stock worth $2,293,000 after buying an additional 33,562 shares during the period. Apexium Financial LP lifted its stake in shares of Enterprise Products Partners by 21.1% in the first quarter. Apexium Financial LP now owns 9,386 shares of the oil and gas producer's stock worth $320,000 after acquiring an additional 1,636 shares in the last quarter. Oliver Luxxe Assets LLC lifted its stake in shares of Enterprise Products Partners by 1.5% in the first quarter. Oliver Luxxe Assets LLC now owns 328,725 shares of the oil and gas producer's stock worth $11,223,000 after acquiring an additional 4,948 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in shares of Enterprise Products Partners by 74.3% in the first quarter. Jump Financial LLC now owns 303,200 shares of the oil and gas producer's stock worth $10,351,000 after acquiring an additional 129,249 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

Insider Activity at Enterprise Products Partners

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Morgan Stanley cut their price target on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Citigroup cut their price target on 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. Scotiabank boosted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 5th. Finally, TD Cowen assumed coverage on Enterprise Products Partners in a research note on Monday, July 7th. They issued a "hold" rating and a $33.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of "Moderate Buy" and a consensus price target of $35.83.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD traded up $0.31 during trading on Thursday, hitting $31.93. 2,784,448 shares of the company traded hands, compared to its average volume of 4,144,796. The stock has a market capitalization of $69.14 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.84 and a beta of 0.66. The business's fifty day moving average is $31.41 and its 200-day moving average is $31.78. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04.

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

Enterprise Products Partners Increases Dividend

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