McElhenny Sheffield Capital Management LLC Sells 31,984 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• McElhenny Sheffield Capital Management cut its stake in Enterprise Products Partners by 70.2%, selling 31,984 shares in the fourth quarter and leaving it with 13,546 shares valued at $434,000.
• CEO Aj Teague purchased 2,665 shares on March 20 at $37.55, increasing his holdings to 77,576 shares, and insiders now own 32.60% of the company.
• Enterprise Products Partners beat quarterly EPS ($0.75 vs. $0.69) and revenue estimates ($13.79B vs. $12.44B); analysts have raised price targets and the stock carries a consensus "Moderate Buy" with an average target of $37.73.

McElhenny Sheffield Capital Management LLC reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 70.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,546 shares of the oil and gas producer's stock after selling 31,984 shares during the quarter. McElhenny Sheffield Capital Management LLC's holdings in Enterprise Products Partners were worth $434,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Energy Income Partners LLC raised its stake in shares of Enterprise Products Partners by 0.6% in the third quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer's stock valued at $459,829,000 after buying an additional 80,884 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Enterprise Products Partners by 1.9% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,570,499 shares of the oil and gas producer's stock valued at $361,810,000 after acquiring an additional 214,995 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in Enterprise Products Partners during the third quarter valued at about $292,194,000. Berkley W R Corp lifted its holdings in Enterprise Products Partners by 17.9% during the third quarter. Berkley W R Corp now owns 6,000,000 shares of the oil and gas producer's stock valued at $187,620,000 after purchasing an additional 910,206 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Enterprise Products Partners by 8.6% during the third quarter. Thrivent Financial for Lutherans now owns 4,182,229 shares of the oil and gas producer's stock valued at $130,778,000 after purchasing an additional 331,066 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $38.09 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.74 and a current ratio of 1.04. Enterprise Products Partners L.P. has a 52-week low of $27.86 and a 52-week high of $39.74. The firm has a market cap of $82.35 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.50 and a beta of 0.55. The business's fifty day moving average is $36.75 and its 200 day moving average is $33.54.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.06. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The company had revenue of $13.79 billion for the quarter, compared to analyst estimates of $12.44 billion. During the same period in the previous year, the company posted $0.74 EPS. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Insider Activity

In related news, CEO Aj Teague acquired 2,665 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the purchase, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. This trade represents a 3.56% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 32.60% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on EPD. Royal Bank Of Canada upped their price objective on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an "outperform" rating in a report on Monday, March 30th. Barclays upped their price objective on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday, March 5th. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $35.00 to $39.00 and gave the company a "neutral" rating in a report on Tuesday, March 10th. Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $38.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, March 4th. Finally, Truist Financial began coverage on shares of Enterprise Products Partners in a report on Tuesday, March 24th. They set a "hold" rating and a $36.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and an average target price of $37.73.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. NYSE: EPD is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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