Old North State Trust LLC Sells 1,268 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Old North State Trust LLC lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 12.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,955 shares of the oil and gas producer’s stock after selling 1,268 shares during the period. Old North State Trust LLC’s holdings in Enterprise Products Partners were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Verity Asset Management Inc. lifted its holdings in shares of Enterprise Products Partners by 99.1% during the 1st quarter. Verity Asset Management Inc. now owns 109,848 shares of the oil and gas producer’s stock worth $2,845,000 after acquiring an additional 54,676 shares during the period. Arete Wealth Advisors LLC acquired a new position in Enterprise Products Partners during the 1st quarter worth approximately $689,000. Westover Capital Advisors LLC increased its position in Enterprise Products Partners by 11.5% during the 1st quarter. Westover Capital Advisors LLC now owns 19,431 shares of the oil and gas producer’s stock worth $503,000 after purchasing an additional 2,000 shares in the last quarter. Advisory Services Network LLC increased its position in Enterprise Products Partners by 12.7% during the 1st quarter. Advisory Services Network LLC now owns 178,325 shares of the oil and gas producer’s stock worth $4,619,000 after purchasing an additional 20,124 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in Enterprise Products Partners by 3.5% during the 1st quarter. Rockefeller Capital Management L.P. now owns 1,423,505 shares of the oil and gas producer’s stock worth $36,867,000 after purchasing an additional 47,853 shares in the last quarter. Institutional investors own 26.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on EPD. StockNews.com started coverage on shares of Enterprise Products Partners in a research report on Thursday, August 17th. They set a “buy” rating for the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $33.00 price objective on shares of Enterprise Products Partners in a research note on Thursday, July 20th. TD Securities reduced their price objective on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, August 2nd. Finally, Mizuho upped their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.70.

Enterprise Products Partners Stock Down 0.3 %

Shares of NYSE EPD opened at $27.01 on Friday. The firm has a market cap of $58.66 billion, a PE ratio of 10.94 and a beta of 1.08. Enterprise Products Partners L.P. has a 12-month low of $22.90 and a 12-month high of $27.28. The company’s fifty day simple moving average is $26.67 and its 200 day simple moving average is $26.24. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). Enterprise Products Partners had a net margin of 10.39% and a return on equity of 19.71%. The business had revenue of $10.65 billion during the quarter, compared to the consensus estimate of $12.34 billion. During the same period last year, the business posted $0.64 earnings per share. The firm’s quarterly revenue was down 33.7% on a year-over-year basis. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.52 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.40%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Friday, July 28th. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.97%.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery acquired 50,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were purchased at an average cost of $26.60 per share, with a total value of $1,330,000.00. Following the completion of the purchase, the director now owns 114,758 shares of the company’s stock, valued at $3,052,562.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.