Verity & Verity LLC Lowers Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Verity & Verity LLC trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Apollon Wealth Management LLC boosted its stake in shares of Enterprise Products Partners by 2.5% during the 2nd quarter. Apollon Wealth Management LLC now owns 28,393 shares of the oil and gas producer’s stock worth $692,000 after acquiring an additional 700 shares in the last quarter. HBW Advisory Services LLC raised its holdings in Enterprise Products Partners by 7.2% in the 3rd quarter. HBW Advisory Services LLC now owns 16,776 shares of the oil and gas producer’s stock valued at $399,000 after acquiring an additional 1,125 shares during the last quarter. M&T Bank Corp raised its holdings in Enterprise Products Partners by 0.3% in the 3rd quarter. M&T Bank Corp now owns 644,556 shares of the oil and gas producer’s stock valued at $15,328,000 after acquiring an additional 1,746 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in Enterprise Products Partners by 109.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 17,920 shares of the oil and gas producer’s stock valued at $426,000 after acquiring an additional 9,360 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Enterprise Products Partners by 1.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 990,572 shares of the oil and gas producer’s stock valued at $23,556,000 after acquiring an additional 12,122 shares during the last quarter. 26.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EPD. Citigroup began coverage on shares of Enterprise Products Partners in a report on Thursday, December 8th. They set a “buy” rating and a $31.00 price target for the company. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, March 2nd. They set a “sector outperform” rating and a $31.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, March 9th. StockNews.com initiated coverage on shares of Enterprise Products Partners in a research report on Thursday. They set a “buy” rating for the company. Finally, TD Securities increased their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 2nd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.83.

Insider Activity

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

Enterprise Products Partners Trading Down 0.7 %

NYSE EPD opened at $25.07 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.66 and a current ratio of 0.86. The firm has a market cap of $54.42 billion, a PE ratio of 10.03 and a beta of 1.10. Enterprise Products Partners L.P. has a one year low of $22.90 and a one year high of $28.65. The firm’s fifty day moving average is $25.86 and its two-hundred day moving average is $25.19.

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

Enterprise Products Partners Increases Dividend

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

Enterprise Products Partners Profile

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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.