Enterprise Products Partners L.P. $EPD Shares Sold by Renaissance Investment Group LLC

Renaissance Investment Group LLC decreased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 0.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 232,194 shares of the oil and gas producer’s stock after selling 730 shares during the quarter. Renaissance Investment Group LLC’s holdings in Enterprise Products Partners were worth $7,200,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Brooklyn Investment Group acquired a new position in Enterprise Products Partners during the 1st quarter worth approximately $27,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $28,000. Security National Bank acquired a new position in shares of Enterprise Products Partners during the first quarter worth $30,000. Alpine Bank Wealth Management acquired a new position in shares of Enterprise Products Partners during the first quarter worth $31,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Enterprise Products Partners in the first quarter valued at $34,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director William C. Montgomery acquired 16,000 shares of Enterprise Products Partners stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average price of $31.55 per share, with a total value of $504,800.00. Following the completion of the acquisition, 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 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 shares were bought at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the purchase, 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. Corporate insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $31.69 on Tuesday. 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 stock has a 50 day simple moving average of $31.56 and a 200-day simple moving average of $31.63. The company has a market cap of $68.62 billion, a PE ratio of 11.78, a P/E/G ratio of 1.99 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.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 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 analyst estimates of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm’s revenue was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EPD shares. Scotiabank lifted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 5th. Barclays reduced their price target on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. TD Cowen started coverage on Enterprise Products Partners in a research report on Monday, July 7th. They issued a “hold” rating and a $33.00 target price on the stock. Morgan Stanley decreased their price target on shares of 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. Finally, Stifel Nicolaus reduced their price objective on shares of 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. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.83.

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.