Enterprise Products Partners L.P. $EPD Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel lowered its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 5.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 35,443 shares of the oil and gas producer’s stock after selling 2,196 shares during the quarter. Carnegie Investment Counsel’s holdings in Enterprise Products Partners were worth $1,099,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in EPD. Brighton Jones LLC increased its holdings in shares of Enterprise Products Partners by 19.9% in the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after acquiring an additional 5,425 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Enterprise Products Partners by 113.6% in the 1st quarter. Golden State Wealth Management LLC now owns 8,102 shares of the oil and gas producer’s stock valued at $277,000 after acquiring an additional 4,309 shares during the last quarter. First Merchants Corp increased its holdings in shares of Enterprise Products Partners by 12.9% in the 1st quarter. First Merchants Corp now owns 10,074 shares of the oil and gas producer’s stock valued at $344,000 after acquiring an additional 1,150 shares during the last quarter. Diversified Trust Co increased its holdings in shares of Enterprise Products Partners by 13.7% in the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock valued at $516,000 after acquiring an additional 1,821 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Enterprise Products Partners by 20.0% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,000 shares of the oil and gas producer’s stock valued at $102,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EPD. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Saturday. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. TD Cowen started coverage on Enterprise Products Partners in a research note on Monday, July 7th. They issued a “hold” rating and a $33.00 target price on the stock. Scotiabank lowered their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, September 19th. Finally, Morgan Stanley lowered their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

Insider Activity at Enterprise Products Partners

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

Enterprise Products Partners Stock Up 0.2%

EPD opened at $31.00 on Friday. 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 has a 50 day simple moving average of $31.45 and a 200-day simple moving average of $31.28. The stock has a market capitalization of $67.13 billion, a P/E ratio of 11.53, a P/E/G ratio of 2.21 and a beta of 0.64. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing the consensus estimate 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 quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.04%.

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.