Verity & Verity LLC Sells 1,884 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Verity & Verity LLC cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,610 shares of the oil and gas producer’s stock after selling 1,884 shares during the quarter. Verity & Verity LLC’s holdings in Enterprise Products Partners were worth $2,089,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of EPD. Cowa LLC raised its holdings in Enterprise Products Partners by 9,906.0% during the first quarter. Cowa LLC now owns 7,753,281 shares of the oil and gas producer’s stock valued at $2,001,000 after acquiring an additional 7,675,795 shares during the period. Truist Financial Corp increased its holdings in shares of Enterprise Products Partners by 299.5% in the third quarter. Truist Financial Corp now owns 2,029,962 shares of the oil and gas producer’s stock worth $48,273,000 after purchasing an additional 1,521,865 shares during the last quarter. SailingStone Capital Partners LLC bought a new stake in shares of Enterprise Products Partners in the third quarter worth about $33,164,000. Clearbridge Investments LLC increased its holdings in shares of Enterprise Products Partners by 12.5% in the first quarter. Clearbridge Investments LLC now owns 11,888,708 shares of the oil and gas producer’s stock worth $306,848,000 after purchasing an additional 1,323,267 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Enterprise Products Partners by 4.7% in the first quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock worth $646,548,000 after purchasing an additional 1,114,690 shares during the last quarter. 26.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EPD shares. JPMorgan Chase & Co. lifted their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, March 9th. Citigroup began coverage on Enterprise Products Partners in a report on Thursday, December 8th. They issued a “buy” rating and a $31.00 target price on the stock. StockNews.com began coverage on Enterprise Products Partners in a research report on Thursday. They issued a “buy” rating for the company. TD Securities lifted their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 2nd. Finally, Wolfe Research upgraded Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $27.00 price target for the company in a research report on Monday, January 9th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus target price of $30.83.

Insider Activity at Enterprise Products Partners

In other news, CEO Aj Teague purchased 21,150 shares of the stock in a transaction that occurred on Tuesday, December 20th. The stock was purchased at an average price of $23.60 per share, for a total transaction of $499,140.00. Following the completion of the acquisition, the chief executive officer now owns 2,335,225 shares of the company’s stock, valued at $55,111,310. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Carin Marcy Barth purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, December 27th. The stock was purchased at an average price of $23.99 per share, for a total transaction of $119,950.00. Following the completion of the acquisition, the director now owns 75,776 shares of the company’s stock, valued at $1,817,866.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Aj Teague acquired 21,150 shares of Enterprise Products Partners stock in a transaction that occurred on Tuesday, December 20th. The stock was acquired at an average cost of $23.60 per share, with a total value of $499,140.00. Following the purchase, the chief executive officer now directly owns 2,335,225 shares of the company’s stock, valued at $55,111,310. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 29,800 shares of company stock worth $707,019. Company insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Down 0.7 %

Shares of NYSE:EPD opened at $25.07 on Friday. Enterprise Products Partners L.P. has a 1 year low of $22.90 and a 1 year high of $28.65. The business has a 50 day simple moving average of $25.86 and a two-hundred day simple moving average of $25.19. The firm has a market capitalization of $54.42 billion, a PE ratio of 10.03 and a beta of 1.10. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.86 and a quick ratio of 0.66.

Enterprise Products Partners (NYSE:EPD – Get Rating) last announced its earnings results on Wednesday, February 1st. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05. Enterprise Products Partners had a return on equity of 20.38% and a net margin of 9.43%. The business had revenue of $13.65 billion during the quarter, compared to analyst estimates of $14.74 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.5 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Tuesday, January 31st were issued a $0.49 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.48. The ex-dividend date was Monday, January 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 7.82%. Enterprise Products Partners’s payout ratio is presently 78.40%.

About Enterprise Products Partners

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Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.