Petrus Trust Company LTA Sells 199,865 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• Petrus Trust Company LTA has reduced its stake in Enterprise Products Partners L.P. by 24.7%, owning 610,000 shares worth approximately $20.83 million as of its latest SEC filing.
• Enterprise Products Partners recently declared a quarterly dividend of $0.545 per share, representing an annualized dividend of $2.18 and a yield of 6.9%.
• The company's stock saw mixed earnings results, reporting $0.66 EPS for the quarter, which missed analysts' estimates by $0.01, and a revenue of $11.36 billion, falling short of expectations of $15.24 billion.

Petrus Trust Company LTA lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 24.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 610,000 shares of the oil and gas producer's stock after selling 199,865 shares during the quarter. Enterprise Products Partners makes up about 1.9% of Petrus Trust Company LTA's holdings, making the stock its 16th largest position. Petrus Trust Company LTA's holdings in Enterprise Products Partners were worth $20,825,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Colonial Trust Co SC lifted its stake 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 acquiring an additional 314 shares during the last quarter. Strategic Advisors LLC raised its position in Enterprise Products Partners by 3.5% during the 1st quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer's stock valued at $341,000 after purchasing an additional 337 shares during the last quarter. Per Stirling Capital Management LLC. raised its position in Enterprise Products Partners by 1.5% during the 1st quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer's stock valued at $804,000 after purchasing an additional 339 shares during the last quarter. Full Sail Capital LLC raised its position in Enterprise Products Partners by 3.9% during the 4th quarter. Full Sail Capital LLC now owns 9,081 shares of the oil and gas producer's stock valued at $285,000 after purchasing an additional 341 shares during the last quarter. Finally, Keystone Wealth Services LLC raised its position in Enterprise Products Partners by 2.6% during the 1st quarter. Keystone Wealth Services LLC now owns 13,937 shares of the oil and gas producer's stock valued at $476,000 after purchasing an additional 349 shares during the last quarter. Institutional investors own 26.07% of the company's stock.

Insider Buying and Selling at Enterprise Products Partners

In related news, 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 bought at an average cost of $31.55 per share, with a total value of $504,800.00. Following the acquisition, the director owned 136,920 shares in the company, valued at $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 acquisition, the director owned 158,586 shares in the company, valued at $4,971,671.10. This trade represents a 10.45% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EPD. Morgan Stanley lowered their price target on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 26th. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an "outperform" rating in a research report on Friday, July 11th. Citigroup lowered their price target 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. Stifel Nicolaus reduced their target price on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, July 29th. Finally, Scotiabank upped their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Thursday, June 5th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.83.

Enterprise Products Partners Stock Down 0.4%

EPD stock traded down $0.13 during midday trading on Friday, hitting $31.68. The company's stock had a trading volume of 5,019,068 shares, compared to its average volume of 3,491,915. The company has a market cap of $68.58 billion, a PE ratio of 11.78, a P/E/G ratio of 1.98 and a beta of 0.69. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The firm's 50-day moving average is $31.52 and its 200-day moving average is $31.70.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released 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 business had revenue of $11.36 billion during 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 business's revenue 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. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared 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 6.9%. The ex-dividend date of this dividend was Thursday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's payout ratio is currently 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.