Fayez Sarofim & Co Sells 323,280 Shares of Enterprise Products Partners L.P. $EPD

Fayez Sarofim & Co lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,182,405 shares of the oil and gas producer’s stock after selling 323,280 shares during the period. Enterprise Products Partners comprises 1.2% of Fayez Sarofim & Co’s portfolio, making the stock its 26th largest holding. Fayez Sarofim & Co’s holdings in Enterprise Products Partners were worth $537,294,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after acquiring an additional 5,425 shares during the period. Schnieders Capital Management LLC. increased its stake in Enterprise Products Partners by 9.3% in the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after acquiring an additional 5,000 shares during the period. Geode Capital Management LLC raised its position in Enterprise Products Partners by 6.2% in the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after purchasing an additional 3,742 shares in the last quarter. Foundations Investment Advisors LLC raised its position in Enterprise Products Partners by 14.8% in the second quarter. Foundations Investment Advisors LLC now owns 251,944 shares of the oil and gas producer’s stock worth $7,813,000 after purchasing an additional 32,429 shares in the last quarter. Finally, Creative Planning lifted its stake in Enterprise Products Partners by 4.6% during the second quarter. Creative Planning now owns 850,162 shares of the oil and gas producer’s stock worth $26,364,000 after purchasing an additional 37,115 shares during the period. Institutional investors own 26.07% of the company’s stock.

Insider Activity

In related news, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the transaction, the director directly owned 173,586 shares in the company, valued at approximately $5,570,374.74. This represents a 9.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 32.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EPD has been the topic of several analyst reports. Barclays upped their price objective on Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Citigroup reaffirmed a “buy” rating and issued a $39.00 price target (up from $36.00) on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. TD Cowen upped their price target on Enterprise Products Partners from $33.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, February 4th. Scotiabank reiterated a “sector perform” rating and set a $37.00 price objective (up from $35.00) on shares of Enterprise Products Partners in a research note on Thursday, February 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Enterprise Products Partners has a consensus rating of “Hold” and a consensus price target of $36.71.

Enterprise Products Partners Stock Up 1.1%

Shares of EPD opened at $37.01 on Monday. The company has a market capitalization of $80.00 billion, a P/E ratio of 13.91, a PEG ratio of 1.48 and a beta of 0.58. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $38.22. The business’s 50 day simple moving average is $34.78 and its 200-day simple moving average is $32.77. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The firm had revenue of $13.79 billion during the quarter, compared to analysts’ expectations of $12.44 billion. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The business’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.74 EPS. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a $0.55 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Friday, January 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.71%.

About Enterprise Products Partners

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.