Enterprise Products Partners L.P. (NYSE:EPD) Holdings Decreased by Finer Wealth Management Inc.

Finer Wealth Management Inc. decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,437 shares of the oil and gas producer’s stock after selling 469 shares during the quarter. Finer Wealth Management Inc.’s holdings in Enterprise Products Partners were worth $356,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Security National Bank purchased a new position in shares of Enterprise Products Partners during the first quarter valued at $30,000. Alpine Bank Wealth Management purchased a new position in Enterprise Products Partners in the first quarter valued at about $31,000. N.E.W. Advisory Services LLC purchased a new position in Enterprise Products Partners in the first quarter valued at about $34,000. Colonial Trust Co SC grew its stake in Enterprise Products Partners by 44.9% in the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 314 shares in the last quarter. Finally, North Capital Inc. purchased a new position in Enterprise Products Partners in the first quarter valued at about $38,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $31.16 on Tuesday. The business has a 50 day moving average price of $31.38 and a 200 day moving average price of $31.91. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The company has a market cap of $67.59 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.81 and a beta of 0.66. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.88%. The business had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the previous year, the company earned $0.64 EPS. Enterprise Products Partners’s revenue for the quarter was down 15.7% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be given a $0.545 dividend. The ex-dividend date is Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.0%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s dividend payout ratio is 81.04%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on EPD shares. Citigroup lowered their target price on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Argus upgraded Enterprise Products Partners to a “strong-buy” rating in a research note on Monday, May 5th. Stifel Nicolaus lowered their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the company an “outperform” rating in a research note on Friday, July 11th. Finally, TD Cowen initiated coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a “hold” rating and a $33.00 price target for the company. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average target price of $36.25.

Insider Buying and Selling

In other news, Director William C. Montgomery acquired 16,000 shares of Enterprise Products Partners stock in a transaction on Wednesday, July 30th. The stock was bought at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the transaction, the director owned 136,920 shares of the company’s stock, valued at $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John R. Rutherford acquired 15,000 shares of Enterprise Products Partners stock in a transaction on Tuesday, July 29th. The stock was purchased at an average price of $31.35 per share, with a total value of $470,250.00. Following the transaction, the director directly owned 158,586 shares in the company, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by company 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.