GP Brinson Investments LLC Trims Stock Holdings in Enterprise Products Partners L.P. $EPD

GP Brinson Investments LLC lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 22.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 577,929 shares of the oil and gas producer’s stock after selling 165,804 shares during the period. Enterprise Products Partners comprises about 7.6% of GP Brinson Investments LLC’s portfolio, making the stock its 4th biggest position. GP Brinson Investments LLC’s holdings in Enterprise Products Partners were worth $17,922,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Diversified Trust Co grew its position in Enterprise Products Partners by 13.7% during the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock worth $516,000 after acquiring an additional 1,821 shares during the last quarter. Aurora Private Wealth Inc. grew its position in Enterprise Products Partners by 3,044.1% during the 1st quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer’s stock worth $6,853,000 after acquiring an additional 194,336 shares during the last quarter. Cyndeo Wealth Partners LLC grew its position in Enterprise Products Partners by 20.0% during the 1st quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer’s stock worth $4,553,000 after acquiring an additional 22,202 shares during the last quarter. Forbes J M & Co. LLP bought a new stake in Enterprise Products Partners during the 1st quarter worth $290,000. Finally, Nuveen LLC bought a new stake in Enterprise Products Partners during the 1st quarter worth $22,284,000. Institutional investors own 26.07% of the company’s stock.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery acquired 16,000 shares of the company’s stock in a transaction dated 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 purchase, the director directly owned 136,920 shares of the company’s stock, valued at $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John R. Rutherford acquired 15,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was acquired at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the purchase, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is owned by insiders.

Enterprise Products Partners Stock Down 0.6%

Shares of NYSE:EPD opened at $31.75 on Friday. The company has a market capitalization of $68.75 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 2.00 and a beta of 0.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The business’s 50-day moving average is $31.56 and its 200-day moving average is $31.66. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The business had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. Equities 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were paid a $0.545 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.04%.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of research reports. TD Cowen initiated coverage on Enterprise Products Partners in a research report on Monday, July 7th. They set a “hold” rating and a $33.00 price objective on the stock. Morgan Stanley reduced their price target on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. Stifel Nicolaus reduced their price target on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, July 29th. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Finally, Barclays reduced their price target on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.83.

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.