Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Intercontinental Wealth Advisors LLC

Intercontinental Wealth Advisors LLC decreased its position in Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,218 shares of the oil and gas producer’s stock after selling 413 shares during the quarter. Intercontinental Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $419,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in EPD. Fairfield Bush & CO. acquired a new stake in Enterprise Products Partners during the first quarter worth approximately $31,000. Nauset Wealth Management. LLC acquired a new stake in Enterprise Products Partners during the first quarter worth approximately $32,000. PYA Waltman Capital LLC acquired a new stake in Enterprise Products Partners during the fourth quarter worth approximately $31,000. FinTrust Capital Advisors LLC raised its holdings in Enterprise Products Partners by 38.9% during the first quarter. FinTrust Capital Advisors LLC now owns 1,429 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 400 shares in the last quarter. Finally, Pittenger & Anderson Inc. acquired a new stake in Enterprise Products Partners during the first quarter worth approximately $37,000. Institutional investors and hedge funds own 27.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on EPD shares. UBS Group raised their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, July 8th. US Capital Advisors reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Wednesday, June 1st. Truist Financial lifted their target price on shares of Enterprise Products Partners from $27.00 to $30.00 in a report on Tuesday, May 3rd. Morgan Stanley lifted their target price on shares of Enterprise Products Partners from $27.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, April 26th. Finally, TD Securities lifted their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $25.70 on Friday. The firm’s fifty day moving average price is $25.65 and its 200 day moving average price is $25.43. Enterprise Products Partners L.P. has a 1-year low of $20.42 and a 1-year high of $28.65. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.84 and a quick ratio of 0.67. The firm has a market cap of $56.04 billion, a price-to-earnings ratio of 11.58 and a beta of 1.16.

Enterprise Products Partners (NYSE:EPDGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The firm had revenue of $16.06 billion for the quarter, compared to analyst estimates of $11.96 billion. Enterprise Products Partners had a net margin of 9.54% and a return on equity of 19.08%. Enterprise Products Partners’s quarterly revenue was up 69.9% on a year-over-year basis. During the same period last year, the firm posted $0.51 EPS. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.5 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 29th will be given a dividend of $0.475 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a dividend yield of 7.39%. The ex-dividend date of this dividend is Thursday, July 28th. Enterprise Products Partners’s payout ratio is presently 85.59%.

Insiders Place Their Bets

In related news, Director Carin Marcy Barth bought 19,050 shares of the firm’s stock in a transaction on Friday, June 24th. The shares were bought at an average cost of $23.64 per share, for a total transaction of $450,342.00. Following the transaction, the director now owns 19,050 shares of the company’s stock, valued at $450,342. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Carin Marcy Barth purchased 19,050 shares of the business’s stock in a transaction dated Friday, June 24th. The stock was acquired at an average price of $23.64 per share, with a total value of $450,342.00. Following the purchase, the director now directly owns 19,050 shares of the company’s stock, valued at approximately $450,342. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John R. Rutherford purchased 6,500 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were purchased at an average cost of $25.78 per share, with a total value of $167,570.00. Following the purchase, the director now directly owns 113,941 shares in the company, valued at $2,937,398.98. The disclosure for this purchase can be found here. Insiders own 37.50% of the company’s stock.

Enterprise Products Partners Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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