Enterprise Products Partners L.P. $EPD Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,549,261 shares of the oil and gas producer’s stock after selling 51,195 shares during the period. JPMorgan Chase & Co. owned 0.12% of Enterprise Products Partners worth $79,715,000 as of its most recent SEC filing.

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

Enterprise Products Partners Trading Down 1.2%

Enterprise Products Partners stock opened at $37.07 on Thursday. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $38.22. 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 $80.14 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.50 and a beta of 0.59. The firm has a 50 day simple moving average of $35.11 and a 200-day simple moving average of $32.87.

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

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.71%.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction dated Monday, December 29th. The stock was acquired at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the acquisition, the director directly owned 173,586 shares in the company, valued at $5,570,374.74. This represents a 9.46% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 32.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price target on Enterprise Products Partners from $34.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday. Wolfe Research lowered Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective for the company. in a report on Wednesday, January 14th. UBS Group restated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Jefferies Financial Group reiterated a “hold” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Finally, Citigroup reissued a “buy” rating and issued a $39.00 price target (up from $36.00) on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $37.14.

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.