MAI Capital Management Has $21.02 Million Stock Holdings in Enterprise Products Partners L.P. $EPD

Key Points

• MAI Capital Management reduced its stake in Enterprise Products Partners L.P. by 3.8%, owning 615,755 shares valued at approximately $21.02 million after selling 24,320 shares in the first quarter.
• The company recently increased its quarterly dividend to $0.545 per share, resulting in an annual yield of 6.8% and a payout ratio of 81.04%.
• Analyst ratings for EPD show a consensus of 2 Strong Buy, 8 Buy, and 5 Hold ratings, with an average target price of $35.83.

MAI Capital Management trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 615,755 shares of the oil and gas producer's stock after selling 24,320 shares during the period. MAI Capital Management's holdings in Enterprise Products Partners were worth $21,022,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of EPD. ING Groep NV acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth about $71,052,000. Alps Advisors Inc. increased its holdings in Enterprise Products Partners by 5.0% during the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock worth $1,410,891,000 after buying an additional 1,967,188 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Enterprise Products Partners by 65.3% during the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer's stock worth $148,415,000 after buying an additional 1,717,768 shares during the last quarter. Truist Financial Corp increased 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 during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 worth $330,739,000 after buying an additional 851,188 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was purchased 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 of the company's stock, valued at approximately $4,971,671.10. The trade was a 10.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William C. Montgomery acquired 16,000 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were bought 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 approximately $4,319,826. The trade was 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.

Wall Street Analyst Weigh In

EPD has been the subject of several recent analyst reports. Morgan Stanley cut their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 26th. Stifel Nicolaus cut their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, July 29th. Argus raised Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Citigroup cut their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, Scotiabank raised 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. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $35.83.

Enterprise Products Partners Trading Up 0.6%

Shares of EPD stock opened at $32.15 on Friday. The firm has a 50 day moving average price of $31.43 and a two-hundred day moving average price of $31.77. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $69.62 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 1.87 and a beta of 0.66. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $34.63.

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 (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 analyst estimates of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The company's revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

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