Moors & Cabot Inc. Sells 19,147 Shares of Enterprise Products Partners L.P. $EPD

Moors & Cabot Inc. reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 404,907 shares of the oil and gas producer’s stock after selling 19,147 shares during the period. Moors & Cabot Inc.’s holdings in Enterprise Products Partners were worth $12,661,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Winnow Wealth LLC purchased a new stake in shares of Enterprise Products Partners in the second quarter worth $28,000. Traub Capital Management LLC purchased a new position in shares of Enterprise Products Partners during the 2nd quarter valued at $31,000. Abich Financial Wealth Management LLC purchased a new position in shares of Enterprise Products Partners during the 3rd quarter valued at $32,000. Texas Capital Bancshares Inc TX purchased a new stake in Enterprise Products Partners in the 3rd quarter worth $32,000. Finally, Financial Consulate Inc. bought a new stake in Enterprise Products Partners during the third quarter valued at about $33,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Enterprise Products Partners from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Tuesday, March 10th. Stifel Nicolaus lifted their price objective on shares of Enterprise Products Partners from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Morgan Stanley downgraded shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 target price on the stock. in a report on Thursday, December 18th. Scotiabank reaffirmed a “sector perform” rating and set a $37.00 target price (up from $35.00) on shares of Enterprise Products Partners in a research note on Thursday, February 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.71.

Insider Activity at Enterprise Products Partners

In related news, Director John R. Rutherford purchased 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The stock was bought at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the transaction, the director owned 173,586 shares in the company, valued at approximately $5,570,374.74. The trade was a 9.46% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Up 1.0%

Shares of EPD opened at $37.35 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74. The stock has a market capitalization of $80.73 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 1.48 and a beta of 0.58. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $38.22. The business’s 50 day simple moving average is $34.88 and its 200-day simple moving average is $32.80.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The company had revenue of $13.79 billion for the quarter, compared to the consensus estimate of $12.44 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a dividend of $0.55 per share. The ex-dividend date was Friday, January 30th. This represents a $2.20 annualized dividend and a dividend yield of 5.9%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is currently 82.71%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.