First Eagle Investment Management LLC Sells 43,571 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

First Eagle Investment Management LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,658,653 shares of the oil and gas producer’s stock after selling 43,571 shares during the quarter. First Eagle Investment Management LLC owned about 0.08% of Enterprise Products Partners worth $48,068,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. bought a new position in shares of Enterprise Products Partners during the 2nd quarter worth about $25,000. Stephens Consulting LLC acquired a new stake in Enterprise Products Partners during the first quarter worth about $29,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the first quarter valued at about $29,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $29,000. Finally, Burkett Financial Services LLC acquired a new position in Enterprise Products Partners in the 4th quarter valued at approximately $28,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 0.1 %

EPD opened at $29.48 on Thursday. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $30.05. The firm has a market cap of $64.02 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.49 and a beta of 1.03. The firm’s 50-day simple moving average is $29.22 and its 200-day simple moving average is $28.87. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

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

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a $0.525 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 annualized dividend and a yield of 7.12%. Enterprise Products Partners’s payout ratio is presently 82.35%.

Analyst Ratings Changes

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

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