Enterprise Products Partners L.P. $EPD Shares Sold by Townsend Asset Management Corp NC ADV

Townsend Asset Management Corp NC ADV trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 55.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,652 shares of the oil and gas producer’s stock after selling 9,551 shares during the period. Townsend Asset Management Corp NC ADV’s holdings in Enterprise Products Partners were worth $237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EPD. Brooklyn Investment Group purchased a new stake in shares of Enterprise Products Partners during the 1st quarter valued at $27,000. Wealth Preservation Advisors LLC bought a new position in Enterprise Products Partners in the 1st quarter worth about $28,000. Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $29,000. Security National Bank bought a new position in shares of Enterprise Products Partners in the first quarter valued at approximately $30,000. Finally, Alpine Bank Wealth Management acquired a new stake in Enterprise Products Partners during the first quarter valued at approximately $31,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Morgan Stanley cut 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. Barclays cut their target price on shares of 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. Scotiabank reduced 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. Stifel Nicolaus reduced their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. Finally, TD Cowen initiated coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They issued a “hold” rating and a $33.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Enterprise Products Partners Stock Up 0.3%

EPD stock opened at $31.63 on Friday. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $34.63. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The company has a market cap of $68.49 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 2.24 and a beta of 0.69. The company has a 50 day moving average of $31.57 and a two-hundred day moving average of $31.55.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly 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 business had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter last year, the company earned $0.64 EPS. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a dividend of $0.545 per share. This is an increase 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 dividend yield of 6.9%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.04%.

Insider Activity

In other news, Director John R. Rutherford purchased 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average cost of $31.35 per share, with a total value 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. This trade represents a 10.45% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William C. Montgomery purchased 16,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average price 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 $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by insiders.

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.