MADDEN SECURITIES Corp Sells 17,846 Shares of Enterprise Products Partners L.P. $EPD

MADDEN SECURITIES Corp cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 28.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,591 shares of the oil and gas producer’s stock after selling 17,846 shares during the period. MADDEN SECURITIES Corp’s holdings in Enterprise Products Partners were worth $1,430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of EPD. PMV Capital Advisers LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth about $25,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners in the third quarter worth about $31,000. Abich Financial Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the third quarter worth about $32,000. Texas Capital Bancshares Inc TX bought a new position in shares of Enterprise Products Partners in the third quarter worth about $32,000. Finally, Daytona Street Capital LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth about $42,000. 26.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on EPD. Truist Financial boosted their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Royal Bank Of Canada boosted their target price on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Barclays boosted their target price on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. TD Cowen reissued a “hold” rating and set a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Finally, Scotiabank boosted their price target on shares of Enterprise Products Partners from $37.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 17th. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $38.93.

Enterprise Products Partners Stock Down 0.0%

Shares of NYSE EPD opened at $37.17 on Monday. The stock has a market cap of $80.36 billion, a P/E ratio of 13.77, a P/E/G ratio of 1.40 and a beta of 0.52. The firm has a 50 day moving average price of $37.61 and a 200 day moving average price of $34.43. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.74 and a current ratio of 1.04. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $39.74.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The firm had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.56%. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS. Analysts expect that Enterprise Products Partners L.P. will post 2.92 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, April 30th will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a yield of 5.9%. Enterprise Products Partners’s payout ratio is currently 81.48%.

Insider Transactions at Enterprise Products Partners

In other news, CEO Aj Teague acquired 2,665 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the acquisition, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 32.60% of the company’s stock.

Enterprise Products Partners Company Profile

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.