Diversified Trust Co decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 19.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,945 shares of the oil and gas producer’s stock after selling 5,393 shares during the quarter. Diversified Trust Co’s holdings in Enterprise Products Partners were worth $362,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Blackstone Group Inc boosted its stake in shares of Enterprise Products Partners by 238.0% during the 2nd quarter. Blackstone Group Inc now owns 76,906,182 shares of the oil and gas producer’s stock worth $1,397,385,000 after acquiring an additional 54,149,658 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Enterprise Products Partners by 0.9% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 16,603,940 shares of the oil and gas producer’s stock worth $301,694,000 after purchasing an additional 153,258 shares during the last quarter. Chickasaw Capital Management LLC raised its position in shares of Enterprise Products Partners by 0.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 10,955,569 shares of the oil and gas producer’s stock worth $199,063,000 after purchasing an additional 58,665 shares during the last quarter. Bank of Montreal Can raised its position in shares of Enterprise Products Partners by 31.4% during the 2nd quarter. Bank of Montreal Can now owns 9,306,162 shares of the oil and gas producer’s stock worth $160,531,000 after purchasing an additional 2,221,464 shares during the last quarter. Finally, Brookfield Asset Management Inc. acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $162,401,000. 32.49% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on EPD. Piper Sandler cut their price objective on Enterprise Products Partners from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. Royal Bank of Canada restated a “buy” rating and set a $28.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, August 6th. SunTrust Banks lifted their price objective on Enterprise Products Partners from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Wells Fargo & Company lifted their price objective on Enterprise Products Partners from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Finally, Citigroup cut their price target on Enterprise Products Partners from $31.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Enterprise Products Partners presently has a consensus rating of “Buy” and an average price target of $24.36.
Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.01. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $7.52 billion. Enterprise Products Partners had a return on equity of 18.06% and a net margin of 15.41%. Enterprise Products Partners’s revenue was down 30.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 EPS. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Friday, October 30th will be issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Thursday, October 29th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 10.34%. Enterprise Products Partners’s payout ratio is 82.79%.
In other news, CEO Aj Teague acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was acquired at an average cost of $17.03 per share, for a total transaction of $170,300.00. Following the acquisition, the chief executive officer now directly owns 1,958,357 shares in the company, valued at approximately $33,350,819.71. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have bought 35,000 shares of company stock valued at $345,300. Insiders own 37.50% of the company’s stock.
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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