Enterprise Products Partners L.P. $EPD Shares Sold by Clarus Group Inc.

Clarus Group Inc. reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 18.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,075 shares of the oil and gas producer’s stock after selling 10,313 shares during the period. Enterprise Products Partners accounts for about 0.5% of Clarus Group Inc.’s holdings, making the stock its 23rd biggest holding. Clarus Group Inc.’s holdings in Enterprise Products Partners were worth $1,429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in Enterprise Products Partners during the first quarter worth $27,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Enterprise Products Partners during the 1st quarter worth about $28,000. Security National Bank acquired a new stake in shares of Enterprise Products Partners during the 1st quarter worth about $30,000. Alpine Bank Wealth Management acquired a new stake in shares of Enterprise Products Partners during the 1st quarter worth about $31,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Enterprise Products Partners during the 1st quarter worth about $34,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of recent analyst reports. Scotiabank dropped their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, September 19th. TD Cowen assumed coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 target price for the company. Stifel Nicolaus dropped their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, July 29th. Barclays dropped their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, July 2nd. Finally, Morgan Stanley dropped their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.75.

Insider Activity at Enterprise Products Partners

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

Enterprise Products Partners Trading Up 0.8%

EPD opened at $31.70 on Thursday. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63. The stock has a market capitalization of $68.65 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.23 and a beta of 0.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The business has a fifty day moving average price of $31.56 and a 200 day moving average price of $31.58.

Enterprise Products Partners (NYSE:EPD) last released 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). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The company had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. Sell-side analysts expect 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. Shareholders of record on Thursday, July 31st were issued a dividend of $0.545 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, July 31st. This represents a $2.18 annualized dividend and a yield of 6.9%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.04%.

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.