Good Life Advisors LLC Sells 2,575 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Good Life Advisors LLC lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 11.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,953 shares of the oil and gas producer’s stock after selling 2,575 shares during the period. Good Life Advisors LLC’s holdings in Enterprise Products Partners were worth $526,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of EPD. Groesbeck Investment Management Corp NJ grew its holdings in shares of Enterprise Products Partners by 16.1% in the first quarter. Groesbeck Investment Management Corp NJ now owns 23,010 shares of the oil and gas producer’s stock worth $596,000 after purchasing an additional 3,193 shares during the last quarter. TCG Advisory Services LLC bought a new stake in Enterprise Products Partners in the 1st quarter worth $244,000. PSI Advisors LLC increased its position in shares of Enterprise Products Partners by 2.0% in the first quarter. PSI Advisors LLC now owns 20,131 shares of the oil and gas producer’s stock valued at $521,000 after acquiring an additional 386 shares during the period. Grand Jean Capital Management Inc. raised its stake in shares of Enterprise Products Partners by 35.9% during the first quarter. Grand Jean Capital Management Inc. now owns 102,964 shares of the oil and gas producer’s stock valued at $2,667,000 after acquiring an additional 27,220 shares during the last quarter. Finally, Wealth Advisors Inc. boosted its holdings in shares of Enterprise Products Partners by 19.7% during the first quarter. Wealth Advisors Inc. now owns 31,815 shares of the oil and gas producer’s stock worth $849,000 after purchasing an additional 5,235 shares during the period. 26.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EPD shares. Mizuho increased their price objective on Enterprise Products Partners from $32.00 to $33.00 in a report on Wednesday, July 19th. Morgan Stanley reissued an “equal weight” rating and set a $33.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, July 20th. TD Securities dropped their target price on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, August 2nd. Finally, StockNews.com initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.70.

Insider Buying and Selling at Enterprise Products Partners

In related news, Director William C. Montgomery acquired 50,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were purchased at an average price of $26.60 per share, with a total value of $1,330,000.00. Following the completion of the purchase, the director now directly owns 114,758 shares of the company’s stock, valued at $3,052,562.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 32.60% of the stock is currently owned by corporate insiders.

Enterprise Products Partners Stock Up 0.1 %

EPD stock opened at $27.03 on Tuesday. The business’s 50-day moving average is $26.67 and its two-hundred day moving average is $26.24. The company has a market cap of $58.70 billion, a price-to-earnings ratio of 10.94 and a beta of 1.08. Enterprise Products Partners L.P. has a fifty-two week low of $22.90 and a fifty-two week high of $27.28. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.67 and a current ratio of 0.91.

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

Enterprise Products Partners Increases Dividend

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

About Enterprise Products Partners

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.