International Assets Investment Management LLC Reduces Position in Enterprise Products Partners L.P. $EPD

International Assets Investment Management LLC trimmed its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 7.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,420 shares of the oil and gas producer’s stock after selling 3,358 shares during the quarter. International Assets Investment Management LLC’s holdings in Enterprise Products Partners were worth $1,222,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in EPD. ING Groep NV purchased a new position in Enterprise Products Partners in the 1st quarter valued at about $71,052,000. Alps Advisors Inc. raised its position in shares of 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 buying an additional 1,967,188 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Enterprise Products Partners by 65.3% during the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock valued at $148,415,000 after buying an additional 1,717,768 shares during the period. Northside Capital Management LLC purchased a new position in shares of Enterprise Products Partners during the second quarter valued at approximately $47,628,000. Finally, Truist Financial Corp boosted its position in Enterprise Products Partners by 293.6% during the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock worth $68,927,000 after acquiring an additional 1,506,055 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $30.21 on Monday. The firm has a fifty day moving average of $31.52 and a 200-day moving average of $31.25. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week 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 firm has a market capitalization of $65.42 billion, a P/E ratio of 11.23, a PEG ratio of 2.15 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $15.24 billion. During the same period last year, the company posted $0.64 earnings per share. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.545 per share. The ex-dividend date is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.2%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.04%.

Insiders Place Their Bets

In related news, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was acquired at an average price of $31.35 per share, with a total value of $470,250.00. Following the completion of the transaction, the director 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William C. Montgomery acquired 16,000 shares of the firm’s stock in a transaction on Wednesday, July 30th. The shares were bought 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 owned 136,920 shares in the company, valued at $4,319,826. This represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 32.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on EPD. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. 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 price objective for the company. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Morgan Stanley lowered 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 report on Tuesday, August 26th. Finally, 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. Two equities research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.82.

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.