White Pine Investment CO Sells 2,700 Shares of Enterprise Products Partners L.P. $EPD

White Pine Investment CO decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 10.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,080 shares of the oil and gas producer’s stock after selling 2,700 shares during the period. White Pine Investment CO’s holdings in Enterprise Products Partners were worth $716,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Diversified Trust Co increased its position in Enterprise Products Partners by 13.7% during the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock worth $516,000 after buying an additional 1,821 shares during the period. Aurora Private Wealth Inc. grew its holdings in shares of Enterprise Products Partners by 3,044.1% during the 1st quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer’s stock worth $6,853,000 after purchasing an additional 194,336 shares in the last quarter. Cyndeo Wealth Partners LLC grew its holdings in shares of Enterprise Products Partners by 20.0% during the 1st quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer’s stock worth $4,553,000 after purchasing an additional 22,202 shares in the last quarter. Forbes J M & Co. LLP acquired a new stake in shares of Enterprise Products Partners during the 1st quarter worth $290,000. Finally, Corigliano Investment Advisers LLC acquired a new stake in shares of Enterprise Products Partners during the 1st quarter worth $4,384,000. Institutional investors own 26.07% of the company’s stock.

Insider Transactions at Enterprise Products Partners

In other news, Director William C. Montgomery purchased 16,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average cost of $31.55 per share, with a total value of $504,800.00. Following the completion of the purchase, the director 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 purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director John R. Rutherford purchased 15,000 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the purchase, the director directly owned 158,586 shares of the company’s stock, 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.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays reduced their target price on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, July 2nd. 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 report on Tuesday, July 29th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Scotiabank reduced their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, September 19th. Finally, 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 report on Tuesday, August 26th. 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 data from MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $35.75.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $31.27 on Tuesday. The stock’s 50-day simple moving average is $31.57 and its 200 day simple moving average is $31.52. The firm has a market capitalization of $67.71 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 2.25 and a beta of 0.69. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63.

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 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 business’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share. On average, analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were paid a dividend of $0.545 per share. The ex-dividend date of this dividend was Thursday, July 31st. This is a positive change 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 7.0%. Enterprise Products Partners’s payout ratio is 81.04%.

Enterprise Products Partners 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.