Stanley Laman Group Ltd. Sells 3,000 Shares of Enterprise Products Partners L.P. $EPD

Stanley Laman Group Ltd. cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 26.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,204 shares of the oil and gas producer’s stock after selling 3,000 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Enterprise Products Partners were worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of EPD. ING Groep NV bought a new stake in shares of Enterprise Products Partners in the 1st quarter worth approximately $71,052,000. Alps Advisors Inc. boosted its holdings in Enterprise Products Partners by 5.0% in the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock worth $1,410,891,000 after acquiring an additional 1,967,188 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Enterprise Products Partners by 65.3% in the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock worth $148,415,000 after acquiring an additional 1,717,768 shares during the last quarter. Northside Capital Management LLC bought a new position in shares of Enterprise Products Partners during the second quarter valued at $47,628,000. Finally, Truist Financial Corp raised its position in shares of Enterprise Products Partners by 293.6% in the 1st quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock worth $68,927,000 after purchasing an additional 1,506,055 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on EPD. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Stifel Nicolaus dropped their price objective 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. Barclays decreased their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. TD Cowen assumed 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. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Two investment 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.82.

Enterprise Products Partners Stock Down 0.1%

Shares of EPD opened at $30.21 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The business has a fifty day moving average of $31.52 and a 200 day moving average of $31.26. The company has a market cap of $65.42 billion, a PE ratio of 11.23, a P/E/G ratio of 2.15 and a beta of 0.64. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.63.

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 19.81%. The firm had revenue of $11.36 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the prior year, the company posted $0.64 EPS. The company’s revenue was down 15.7% compared to the same quarter last year. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.545 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.2%. Enterprise Products Partners’s dividend payout ratio is currently 81.04%.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average cost of $31.35 per share, with a total value of $470,250.00. Following the purchase, the director owned 158,586 shares of the company’s stock, valued at approximately $4,971,671.10. The trade was a 10.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William C. Montgomery acquired 16,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The stock was acquired at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the transaction, the director directly owned 136,920 shares in the company, valued at $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 32.60% 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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.