Epoch Investment Partners Inc. reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,016,345 shares of the oil and gas producer’s stock after selling 202,897 shares during the quarter. Epoch Investment Partners Inc. owned about 0.33% of Enterprise Products Partners worth $182,917,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of EPD. Laurel Wealth Advisors Inc. lifted its stake in shares of Enterprise Products Partners by 0.4% in the first quarter. Laurel Wealth Advisors Inc. now owns 20,984 shares of the oil and gas producer’s stock worth $579,000 after acquiring an additional 92 shares during the period. Waldron LP acquired a new position in Enterprise Products Partners in the first quarter valued at approximately $3,882,000. Staton Financial Advisors LLC lifted its stake in Enterprise Products Partners by 2.7% in the first quarter. Staton Financial Advisors LLC now owns 135,597 shares of the oil and gas producer’s stock valued at $3,744,000 after buying an additional 3,506 shares during the period. Grassi Investment Management lifted its stake in Enterprise Products Partners by 1.9% in the second quarter. Grassi Investment Management now owns 282,789 shares of the oil and gas producer’s stock valued at $7,658,000 after buying an additional 5,300 shares during the period. Finally, Independent Portfolio Consultants Inc. lifted its stake in Enterprise Products Partners by 4.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 7,325 shares of the oil and gas producer’s stock valued at $198,000 after buying an additional 325 shares during the period. 37.79% of the stock is currently owned by institutional investors.
EPD has been the topic of several recent analyst reports. Scotiabank set a $33.00 price target on Enterprise Products Partners and gave the company a “buy” rating in a research note on Sunday, October 15th. Jefferies Group dropped their price target on Enterprise Products Partners from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price target on shares of Enterprise Products Partners in a research note on Friday, August 11th. BMO Capital Markets set a $33.00 price target on Enterprise Products Partners and gave the company a “buy” rating in a research note on Thursday, October 12th. Finally, Seaport Global Securities initiated coverage on Enterprise Products Partners in a research note on Tuesday, October 10th. They issued a “neutral” rating and a $29.00 price target on the stock. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $30.86.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 7th. Investors of record on Tuesday, October 31st were issued a dividend of $0.4225 per share. The ex-dividend date was Monday, October 30th. This represents a $1.69 annualized dividend and a yield of 6.75%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.42. Enterprise Products Partners’s dividend payout ratio is 135.20%.
In other Enterprise Products Partners news, Director Carin Marcy Barth acquired 12,000 shares of Enterprise Products Partners stock in a transaction on Monday, November 6th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $300,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aj Teague acquired 8,250 shares of Enterprise Products Partners stock in a transaction on Tuesday, November 28th. The stock was acquired at an average price of $24.26 per share, with a total value of $200,145.00. The disclosure for this purchase can be found here. Corporate insiders own 37.50% of the company’s stock.
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Enterprise Products Partners Profile
Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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