Enterprise Products Partners L.P. $EPD Shares Sold by RR Advisors LLC

Key Points

• RR Advisors LLC reduced its stake in Enterprise Products Partners L.P. by 10.8%, selling 102,000 shares and currently holding 843,000 shares valued at approximately $28.77 million.
• Increased positions from other institutional investors signal growing interest in Enterprise Products, with several firms adjusting their stakes during the first quarter.
• The company recently declared a quarterly dividend of $0.545 per share, an increase from the previous dividend of $0.54, yielding about 6.8% annually.

RR Advisors LLC cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 843,000 shares of the oil and gas producer's stock after selling 102,000 shares during the period. Enterprise Products Partners makes up approximately 6.9% of RR Advisors LLC's investment portfolio, making the stock its 6th largest holding. RR Advisors LLC's holdings in Enterprise Products Partners were worth $28,771,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of EPD. Brighton Jones LLC raised its stake in shares of Enterprise Products Partners by 19.9% in the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock valued at $1,023,000 after purchasing an additional 5,425 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Enterprise Products Partners by 5.9% in the 4th quarter. Russell Investments Group Ltd. now owns 32,031 shares of the oil and gas producer's stock valued at $1,004,000 after purchasing an additional 1,781 shares during the period. CreativeOne Wealth LLC raised its stake in shares of Enterprise Products Partners by 139.5% in the 4th quarter. CreativeOne Wealth LLC now owns 39,799 shares of the oil and gas producer's stock valued at $1,248,000 after purchasing an additional 23,178 shares during the period. Guggenheim Capital LLC raised its stake in shares of Enterprise Products Partners by 7.5% in the 4th quarter. Guggenheim Capital LLC now owns 24,168 shares of the oil and gas producer's stock valued at $758,000 after purchasing an additional 1,687 shares during the period. Finally, Jump Financial LLC raised its stake in shares of Enterprise Products Partners by 1,156.7% in the 4th quarter. Jump Financial LLC now owns 173,951 shares of the oil and gas producer's stock valued at $5,455,000 after purchasing an additional 160,109 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.

Insiders Place Their Bets

In other news, Director William C. Montgomery acquired 16,000 shares of Enterprise Products Partners stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average price of $31.55 per share, for a total transaction of $504,800.00. Following 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John R. Rutherford bought 15,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was purchased at an average cost of $31.35 per share, with a total value of $470,250.00. Following the acquisition, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. This represents a 10.45% 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 Stock Performance

Shares of NYSE:EPD traded down $0.1750 during trading on Tuesday, reaching $31.1550. 1,205,484 shares of the stock were exchanged, compared to its average volume of 4,742,805. 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 has a market cap of $67.46 billion, a PE ratio of 11.59, a PEG ratio of 1.82 and a beta of 0.66. The stock has a 50-day moving average price of $31.40 and a 200-day moving average price of $31.84. 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 released its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The firm's revenue for the quarter was down 15.7% on a year-over-year basis. Research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were issued a dividend of $0.545 per share. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.18 annualized dividend and a dividend yield of 7.0%. Enterprise Products Partners's dividend payout ratio (DPR) is 81.04%.

Analyst Ratings Changes

Several analysts have issued reports on EPD shares. Barclays dropped their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Citigroup lowered their target price on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an "outperform" rating in a research report on Friday, July 11th. Argus raised Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Finally, Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Two research 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, Enterprise Products Partners presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.25.

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.