NewEdge Advisors LLC Sells 18,593 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• NewEdge Advisors LLC reduced its stake in Enterprise Products Partners by 6.4%, selling 18,593 shares, and now holds 273,226 shares valued at approximately $9.33 million.
• Enterprise Products Partners announced a quarterly dividend increase to $0.545 per share, yielding 6.9% annually, with a payout ratio of 81.04%.
• Despite a decline in revenue and a slight earnings miss this quarter, analysts have given Enterprise Products Partners a consensus rating of "Moderate Buy" with a target price of $35.83.

NewEdge Advisors LLC lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 6.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 273,226 shares of the oil and gas producer's stock after selling 18,593 shares during the period. NewEdge Advisors LLC's holdings in Enterprise Products Partners were worth $9,328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Colonial Trust Co SC raised its stake in shares of Enterprise Products Partners by 44.9% during the fourth 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 in the last quarter. Strategic Advisors LLC raised its stake in shares of Enterprise Products Partners by 3.5% during the first quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer's stock valued at $341,000 after acquiring an additional 337 shares in the last quarter. Per Stirling Capital Management LLC. raised its stake in shares of Enterprise Products Partners by 1.5% during the first quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer's stock valued at $804,000 after acquiring an additional 339 shares in the last quarter. Keystone Wealth Services LLC raised its stake in shares of Enterprise Products Partners by 2.6% during the first quarter. Keystone Wealth Services LLC now owns 13,937 shares of the oil and gas producer's stock valued at $476,000 after acquiring an additional 349 shares in the last quarter. Finally, Duncan Williams Asset Management LLC raised its stake in shares of Enterprise Products Partners by 4.5% during the first quarter. Duncan Williams Asset Management LLC now owns 8,207 shares of the oil and gas producer's stock valued at $280,000 after acquiring an additional 357 shares in the last quarter. Institutional investors own 26.07% of the company's stock.

Wall Street Analyst Weigh In

EPD has been the topic of several research reports. Barclays cut their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. TD Cowen initiated coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They set a "hold" rating and a $33.00 price objective on the stock. Citigroup cut their price objective 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. Morgan Stanley cut their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 26th. Finally, Stifel Nicolaus cut their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.83.

Insiders Place Their Bets

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was bought 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. This trade represents a 10.45% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William C. Montgomery bought 16,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired 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 $4,319,826. This trade represents a 13.23% 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 Price Performance

Shares of EPD opened at $31.68 on Monday. The firm has a market capitalization of $68.58 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.98 and a beta of 0.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. The company's fifty day moving average price is $31.52 and its 200-day moving average price is $31.70.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced 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). The company had revenue of $11.36 billion for the quarter, compared to analysts' expectations of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. Enterprise Products Partners's quarterly revenue was down 15.7% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

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

About Enterprise Products Partners

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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