Fayez Sarofim & Co Sells 323,280 Shares of Enterprise Products Partners L.P. $EPD

Fayez Sarofim & Co trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,182,405 shares of the oil and gas producer’s stock after selling 323,280 shares during the quarter. Enterprise Products Partners comprises 1.2% of Fayez Sarofim & Co’s portfolio, making the stock its 26th biggest holding. Fayez Sarofim & Co owned 0.79% of Enterprise Products Partners worth $537,294,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Focus Partners Wealth raised its stake in shares of Enterprise Products Partners by 5.4% in the 3rd quarter. Focus Partners Wealth now owns 872,875 shares of the oil and gas producer’s stock valued at $27,320,000 after acquiring an additional 44,957 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its position in Enterprise Products Partners by 4,611.9% during the third quarter. Elevation Point Wealth Partners LLC now owns 18,659 shares of the oil and gas producer’s stock worth $583,000 after purchasing an additional 18,263 shares during the period. Bollard Group LLC boosted its position in Enterprise Products Partners by 6.6% during the third quarter. Bollard Group LLC now owns 1,880,964 shares of the oil and gas producer’s stock worth $58,818,000 after purchasing an additional 115,957 shares during the period. CNA Financial Corp grew its holdings in Enterprise Products Partners by 5.0% during the third quarter. CNA Financial Corp now owns 1,050,000 shares of the oil and gas producer’s stock valued at $32,834,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Cooperman Leon G grew its holdings in Enterprise Products Partners by 4.4% during the third quarter. Cooperman Leon G now owns 1,323,635 shares of the oil and gas producer’s stock valued at $41,390,000 after purchasing an additional 56,000 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Trading Up 1.1%

Shares of EPD stock opened at $37.01 on Monday. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $38.22. The firm’s fifty day simple moving average is $34.78 and its 200 day simple moving average is $32.77. The firm has a market capitalization of $80.00 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.48 and a beta of 0.58. 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 issued its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The firm 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 was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

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

Insiders Place Their Bets

In other news, Director John R. Rutherford bought 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average cost of $32.09 per share, with a total value of $481,350.00. Following the completion of the transaction, the director directly owned 173,586 shares in the company, valued at $5,570,374.74. This 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. 32.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EPD. Raymond James Financial cut shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective for the company. in a research note on Monday, January 5th. Barclays raised their target price on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Wolfe Research lowered shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a research report on Wednesday, January 14th. Wells Fargo & Company upped their price target on shares of Enterprise Products Partners from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.71.

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.