Beck Mack & Oliver LLC Cuts Stock Position in Enterprise Products Partners L.P. $EPD

Beck Mack & Oliver LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 18.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 989,310 shares of the oil and gas producer's stock after selling 228,762 shares during the period. Beck Mack & Oliver LLC's holdings in Enterprise Products Partners were worth $33,775,000 as of its most recent SEC filing.

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A number of other large investors have also added to or reduced their stakes in EPD. ING Groep NV acquired a new stake in Enterprise Products Partners during the 1st quarter valued at $71,052,000. Alps Advisors Inc. grew its holdings in Enterprise Products Partners by 5.0% during the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock valued at $1,410,891,000 after purchasing an additional 1,967,188 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Enterprise Products Partners by 65.3% during the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer's stock valued at $148,415,000 after purchasing an additional 1,717,768 shares in the last quarter. Truist Financial Corp grew its holdings in Enterprise Products Partners by 293.6% during the 1st quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer's stock worth $68,927,000 after acquiring an additional 1,506,055 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock worth $330,739,000 after acquiring an additional 851,188 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director William C. Montgomery acquired 16,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the transaction, the director directly owned 136,920 shares in the company, valued at $4,319,826. This trade represents a 13.23% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John R. Rutherford acquired 15,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director owned 158,586 shares in the company, valued at $4,971,671.10. The trade was a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company's stock.

Analysts Set New Price Targets

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Several brokerages have weighed in on EPD. Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. TD Cowen began coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They set a "hold" rating and a $33.00 price objective for the company. Citigroup decreased their price objective on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Scotiabank raised their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 5th. Finally, Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the stock an "outperform" rating in a research report on Friday, July 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $35.83.

Read Our Latest Stock Analysis on Enterprise Products Partners

Enterprise Products Partners Trading Up 0.6%

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Shares of NYSE:EPD opened at $32.15 on Friday. The company has a market cap of $69.62 billion, a PE ratio of 11.95, a P/E/G ratio of 1.87 and a beta of 0.66. The company's 50-day moving average price is $31.43 and its 200 day moving average price is $31.77. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a $0.545 dividend. The ex-dividend date was Thursday, July 31st. This represents a $2.18 annualized dividend and a yield of 6.8%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's payout ratio is 81.04%.

Enterprise Products Partners Profile

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.

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