Vaughan Nelson Investment Management L.P. Sells 929,175 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

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Vaughan Nelson Investment Management L.P. lessened its position in Enterprise Products Partners L.P. (NYSE:EPD) by 49.5% in the 3rd quarter, Holdings Channel reports. The firm owned 946,625 shares of the oil and gas producer’s stock after selling 929,175 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Enterprise Products Partners were worth $14,947,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Shulman DeMeo Asset Management LLC boosted its holdings in Enterprise Products Partners by 2.3% during the second quarter. Shulman DeMeo Asset Management LLC now owns 24,734 shares of the oil and gas producer’s stock worth $449,000 after purchasing an additional 554 shares during the last quarter. Essex Financial Services Inc. lifted its stake in Enterprise Products Partners by 2.8% in the second quarter. Essex Financial Services Inc. now owns 21,849 shares of the oil and gas producer’s stock valued at $397,000 after acquiring an additional 589 shares during the last quarter. American Research & Management Co. lifted its stake in Enterprise Products Partners by 9.9% in the second quarter. American Research & Management Co. now owns 6,640 shares of the oil and gas producer’s stock valued at $121,000 after acquiring an additional 600 shares during the last quarter. Clear Harbor Asset Management LLC lifted its stake in Enterprise Products Partners by 3.2% in the third quarter. Clear Harbor Asset Management LLC now owns 19,620 shares of the oil and gas producer’s stock valued at $310,000 after acquiring an additional 600 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its stake in Enterprise Products Partners by 46.9% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,963 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 627 shares during the last quarter. 32.49% of the stock is owned by hedge funds and other institutional investors.

In other news, COO Graham W. Bacon bought 10,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were purchased at an average cost of $17.50 per share, with a total value of $175,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Aj Teague bought 1,880 shares of the firm’s stock in a transaction on Monday, November 16th. The stock was purchased at an average cost of $19.05 per share, for a total transaction of $35,814.00. Over the last three months, insiders acquired 36,880 shares of company stock worth $381,114. Insiders own 37.50% of the company’s stock.

NYSE:EPD opened at $18.95 on Tuesday. Enterprise Products Partners L.P. has a 52 week low of $10.27 and a 52 week high of $29.22. The firm has a market cap of $41.37 billion, a price-to-earnings ratio of 9.20 and a beta of 1.36. The firm’s 50-day simple moving average is $16.98 and its 200 day simple moving average is $17.79. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 0.95.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, October 28th. The oil and gas producer reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. Enterprise Products Partners had a net margin of 16.10% and a return on equity of 17.78%. The business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.13 billion. During the same period last year, the firm earned $0.46 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 13.1% compared to the same quarter last year. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.08 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 12th. Shareholders of record on Friday, October 30th were issued a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 9.39%. The ex-dividend date of this dividend was Thursday, October 29th. Enterprise Products Partners’s dividend payout ratio is currently 82.79%.

A number of analysts have commented on EPD shares. Piper Sandler cut their price target on shares of Enterprise Products Partners from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, October 9th. ValuEngine lowered shares of Enterprise Products Partners from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 1st. Evercore ISI raised shares of Enterprise Products Partners from an “in-line” rating to an “outperform” rating and set a $24.00 price objective on the stock in a research report on Friday. SunTrust Banks increased their price objective on shares of Enterprise Products Partners from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company increased their price objective on shares of Enterprise Products Partners from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $24.33.

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.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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