Venture Visionary Partners LLC Trims Stake in Enterprise Products Partners L.P. $EPD

Key Points

• Venture Visionary Partners LLC has reduced its stake in Enterprise Products Partners L.P. by 29.9% in the first quarter, resulting in ownership of 32,286 shares valued at $1,102,000.
• Insider activity reveals that directors John R. Rutherford and William C. Montgomery have increased their positions in the company by 10.45% and 13.23%, respectively, through recent stock purchases.
• Analysts have predominantly set a price target of $35.00 for Enterprise Products Partners, with ratings ranging from "Strong Buy" to "Hold," while the company recently reported a quarterly earnings miss.

Venture Visionary Partners LLC reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 29.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,286 shares of the oil and gas producer's stock after selling 13,776 shares during the quarter. Venture Visionary Partners LLC's holdings in Enterprise Products Partners were worth $1,102,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EPD. Brighton Jones LLC raised its position in Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock valued at $1,023,000 after acquiring an additional 5,425 shares in the last quarter. Guggenheim Capital LLC grew its holdings in Enterprise Products Partners by 7.5% in the fourth 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. Tower Research Capital LLC TRC grew its holdings in Enterprise Products Partners by 22.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,091 shares of the oil and gas producer's stock valued at $316,000 after purchasing an additional 1,848 shares during the period. TD Waterhouse Canada Inc. boosted its stake in shares of Enterprise Products Partners by 1.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 53,580 shares of the oil and gas producer's stock worth $1,680,000 after acquiring an additional 753 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Enterprise Products Partners by 132.6% in the fourth quarter. Hsbc Holdings PLC now owns 569,364 shares of the oil and gas producer's stock worth $17,872,000 after acquiring an additional 324,594 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director John R. Rutherford acquired 15,000 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director owned 158,586 shares of the company's stock, valued at $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William C. Montgomery acquired 16,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the acquisition, the director directly owned 136,920 shares in the company, valued at approximately $4,319,826. This trade represents a 13.23% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Stifel Nicolaus lowered their price target on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, July 29th. Barclays lowered 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 reduced their price objective 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. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Finally, Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.25.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $31.5050 on Thursday. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. 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 $68.22 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.81 and a beta of 0.66. The stock's fifty day moving average is $31.38 and its two-hundred day moving average is $31.84.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). The business had revenue of $11.36 billion during 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 revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. Equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current 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 $0.545 dividend. The ex-dividend date was Thursday, July 31st. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio (DPR) is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.