Neville Rodie & Shaw Inc. Trims Stock Position in Enterprise Products Partners L.P. $EPD

Neville Rodie & Shaw Inc. reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,192 shares of the oil and gas producer’s stock after selling 900 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Enterprise Products Partners were worth $1,588,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EPD. Strategic Advisors LLC lifted its position in Enterprise Products Partners by 3.5% in the first quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer’s stock worth $341,000 after buying an additional 337 shares during the last quarter. Per Stirling Capital Management LLC. lifted its position in Enterprise Products Partners by 1.5% in the first quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer’s stock worth $804,000 after buying an additional 339 shares during the last quarter. Keystone Wealth Services LLC lifted its position in Enterprise Products Partners by 2.6% in the first quarter. Keystone Wealth Services LLC now owns 13,937 shares of the oil and gas producer’s stock worth $476,000 after buying an additional 349 shares during the last quarter. Duncan Williams Asset Management LLC lifted its position in Enterprise Products Partners by 4.5% in the first quarter. Duncan Williams Asset Management LLC now owns 8,207 shares of the oil and gas producer’s stock worth $280,000 after buying an additional 357 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Enterprise Products Partners by 1.2% in the first quarter. Russell Investments Group Ltd. now owns 32,403 shares of the oil and gas producer’s stock worth $1,106,000 after buying an additional 372 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of analyst reports. Scotiabank raised their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 5th. TD Cowen started coverage on Enterprise Products Partners in a research note on Monday, July 7th. They issued a “hold” rating and a $33.00 target price on the stock. 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 research note on Tuesday, July 29th. Morgan Stanley reduced their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Finally, Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.83.

Enterprise Products Partners Price Performance

Shares of EPD opened at $31.75 on Friday. The company has a 50 day moving average price of $31.56 and a 200-day moving average price of $31.66. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63. The stock has a market capitalization of $68.75 billion, a PE ratio of 11.80, a PEG ratio of 2.00 and a beta of 0.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96.

Enterprise Products Partners (NYSE:EPD) 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 analysts’ consensus estimates of $0.67 by ($0.01). The business had revenue of $11.36 billion for 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%. Enterprise Products Partners’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 earnings per share. Equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders 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 dividend on an annualized basis 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 81.04%.

Insiders Place Their Bets

In related news, Director William C. Montgomery purchased 16,000 shares of Enterprise Products Partners stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average cost of $31.55 per share, with a total value of $504,800.00. Following the transaction, the director owned 136,920 shares in the company, valued at approximately $4,319,826. The trade was a 13.23% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction dated Tuesday, July 29th. The stock was bought at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the transaction, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. This represents a 10.45% increase in their position. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company’s stock.

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.