Enterprise Products Partners L.P. $EPD Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,549,261 shares of the oil and gas producer’s stock after selling 51,195 shares during the quarter. JPMorgan Chase & Co.’s holdings in Enterprise Products Partners were worth $79,715,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EPD. Winnow Wealth LLC acquired a new position in Enterprise Products Partners in the second quarter worth approximately $28,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners in the third quarter valued at $31,000. Traub Capital Management LLC acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $31,000. Texas Capital Bancshares Inc TX bought a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $32,000. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $32,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

EPD opened at $37.07 on Thursday. The firm has a market capitalization of $80.14 billion, a P/E ratio of 13.94, a PEG ratio of 1.50 and a beta of 0.59. The stock has a fifty day moving average of $35.11 and a 200-day moving average of $32.87. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $38.22.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The business had revenue of $13.79 billion for the quarter, compared to the consensus estimate of $12.44 billion. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a dividend of $0.55 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.20 annualized dividend and a yield of 5.9%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EPD. Wells Fargo & Company boosted their target price on Enterprise Products Partners from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th. Jefferies Financial Group reiterated a “hold” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. JPMorgan Chase & Co. lifted their price target on Enterprise Products Partners from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 10th. Scotiabank boosted their price objective on Enterprise Products Partners from $37.00 to $39.00 and gave the stock a “sector perform” rating in a report on Tuesday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.14.

Insiders Place Their Bets

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of the company’s stock in a transaction dated Monday, December 29th. The shares were bought at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the acquisition, the director directly owned 173,586 shares of the company’s stock, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 32.60% of the stock is currently owned by company insiders.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.