Focus Partners Advisor Solutions LLC Sells 42,694 Shares of Enterprise Products Partners L.P. $EPD

Focus Partners Advisor Solutions LLC reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 86.0% in the third quarter, HoldingsChannel reports. The firm owned 6,936 shares of the oil and gas producer’s stock after selling 42,694 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Enterprise Products Partners were worth $217,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Winnow Wealth LLC bought a new position in Enterprise Products Partners in the second quarter worth about $28,000. Traub Capital Management LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $31,000. Abich Financial Wealth Management LLC bought a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at about $32,000. Financial Consulate Inc. purchased a new position in shares of Enterprise Products Partners in the 3rd quarter worth approximately $33,000. Finally, Davis Capital Management purchased a new position in shares of Enterprise Products Partners in the 3rd quarter worth approximately $45,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 1.3%

Shares of Enterprise Products Partners stock opened at $37.20 on Thursday. The firm’s 50 day simple moving average is $34.59 and its two-hundred day simple moving average is $32.69. The firm has a market capitalization of $80.41 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 2.61 and a beta of 0.59. 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 current ratio of 1.04, a quick ratio of 0.74 and a debt-to-equity ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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 business had revenue of $13.79 billion during the quarter, compared to the consensus estimate of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. Analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

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

Insider Buying and Selling

In other news, Director John R. Rutherford purchased 15,000 shares of the company’s stock in a transaction on Monday, December 29th. The shares were acquired at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the purchase, the director owned 173,586 shares in the company, valued at $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 32.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on EPD shares. TD Cowen increased their target price on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, February 4th. Barclays upped their price target on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. 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. Citigroup reissued a “buy” rating and issued a $39.00 price objective (up from $36.00) on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Finally, Stifel Nicolaus boosted their target price on Enterprise Products Partners from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. One investment 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.57.

About Enterprise Products Partners

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.