Silvia Mccoll Wealth Management LLC Trims Stock Position in Enterprise Products Partners L.P. $EPD

Silvia Mccoll Wealth Management LLC cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,263 shares of the oil and gas producer’s stock after selling 639 shares during the quarter. Silvia Mccoll Wealth Management LLC’s holdings in Enterprise Products Partners were worth $659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Alps Advisors Inc. lifted its position in Enterprise Products Partners by 5.0% during 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 buying an additional 1,967,188 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Enterprise Products Partners by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock worth $375,662,000 after buying an additional 457,045 shares during the period. Chickasaw Capital Management LLC lifted its position in Enterprise Products Partners by 1.5% during the second quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock worth $171,022,000 after buying an additional 81,135 shares during the period. BROOKFIELD Corp ON lifted its position in Enterprise Products Partners by 2.8% during the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock worth $160,416,000 after buying an additional 128,545 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Enterprise Products Partners by 65.3% during 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 buying an additional 1,717,768 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Enterprise Products Partners news, Director John R. Rutherford acquired 15,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was purchased at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the purchase, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William C. Montgomery acquired 16,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were acquired at an average price of $31.55 per share, with a total value of $504,800.00. Following the purchase, the director owned 136,920 shares in the company, valued at $4,319,826. This 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 Price Performance

EPD stock opened at $31.65 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The firm has a market cap of $68.53 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 2.25 and a beta of 0.64. The stock has a 50-day simple moving average of $31.56 and a 200-day simple moving average of $31.47.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter last year, the business posted $0.64 EPS. Enterprise Products Partners’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, equities analysts predict 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 disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a dividend of $0.545 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. Enterprise Products Partners’s payout ratio is 81.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on EPD shares. 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. Barclays dropped their price target on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, July 2nd. Scotiabank dropped their price target on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, September 19th. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Saturday, September 27th. Finally, TD Cowen started 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. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average target price of $35.75.

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.