Sargent Investment Group LLC Sells 600 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Sargent Investment Group LLC decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 21,405 shares of the oil and gas producer’s stock after selling 600 shares during the quarter. Sargent Investment Group LLC’s holdings in Enterprise Products Partners were worth $620,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Blackstone Inc. boosted its holdings in Enterprise Products Partners by 6.3% during the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after purchasing an additional 1,391,370 shares during the last quarter. Reaves W H & Co. Inc. grew its holdings in shares of Enterprise Products Partners by 1,368.4% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock valued at $42,849,000 after acquiring an additional 1,368,440 shares in the last quarter. Berkley W R Corp grew its holdings in shares of Enterprise Products Partners by 24.5% in the 1st quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after acquiring an additional 1,000,000 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its position in shares of Enterprise Products Partners by 4.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after acquiring an additional 741,237 shares during the last quarter. Finally, Payden & Rygel Investment Group bought a new stake in Enterprise Products Partners during the first quarter worth about $21,371,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

EPD has been the topic of several recent analyst reports. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley cut their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $33.08.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $29.68 on Tuesday. The business’s 50 day moving average is $29.21 and its 200-day moving average is $28.85. The firm has a market cap of $64.45 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $30.05. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same period in the previous year, the firm posted $0.57 EPS. The company’s revenue was up 26.6% compared to the same quarter last year. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.08%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s payout ratio is presently 82.35%.

Enterprise Products Partners 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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.