Enterprise Products Partners L.P. $EPD Shares Sold by Principle Wealth Partners LLC

Principle Wealth Partners LLC lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,492 shares of the oil and gas producer’s stock after selling 644 shares during the period. Principle Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Alps Advisors Inc. boosted its stake in Enterprise Products Partners by 5.0% in the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock valued at $1,410,891,000 after acquiring an additional 1,967,188 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Enterprise Products Partners by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock valued at $375,662,000 after acquiring an additional 457,045 shares in the last quarter. Chickasaw Capital Management LLC boosted its stake in Enterprise Products Partners by 1.5% in the second quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock valued at $171,022,000 after acquiring an additional 81,135 shares in the last quarter. Hamlin Capital Management LLC boosted its stake in Enterprise Products Partners by 1.8% in the second quarter. Hamlin Capital Management LLC now owns 4,995,047 shares of the oil and gas producer’s stock valued at $154,896,000 after acquiring an additional 89,987 shares in the last quarter. Finally, BROOKFIELD Corp ON boosted its stake in Enterprise Products Partners by 2.8% in the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock valued at $160,416,000 after acquiring an additional 128,545 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insider Activity

In other news, Director William C. Montgomery purchased 16,000 shares of the business’s stock in a transaction that occurred on 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 completion of the acquisition, the director directly owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. This trade represents a 13.23% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John R. Rutherford purchased 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the acquisition, the director directly 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 disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company’s stock.

Enterprise Products Partners Trading Down 0.2%

NYSE EPD opened at $30.98 on Friday. The stock has a market capitalization of $67.07 billion, a P/E ratio of 11.51, a P/E/G ratio of 2.21 and a beta of 0.64. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.63. The firm has a 50-day moving average price of $31.46 and a 200 day moving average price of $31.25. 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 (NYSE:EPD) last posted its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The company’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 earnings per share. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 81.04%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. Stifel Nicolaus decreased 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 research note on Tuesday, July 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Morgan Stanley decreased their target price on shares of 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. Finally, TD Cowen assumed coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They set a “hold” rating and a $33.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.82.

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.