True North Advisors 13F: Exits EPD Stake
Key Points
- True North Advisors unloaded its entire position of 150,184 shares in Enterprise Products Partners L.P. EPD during the quarter.
- Enterprise Products Partners L.P. reports trailing twelve month revenue of $58.47 billion alongside a dividend payout ratio of 76.0%.
- Several major firms adjusted their views recently, with RBC Capital maintaining an Outperform rating and a $42.00 price target on September 22, 2026.
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True North Advisors completely exited its investment in Enterprise Products Partners L.P. EPD by selling all 150,184 shares it held, as shown in a Form 13F filing on October 22, 2026.
EPD
Enterprise Products Partners L.P.
What Changed in True North Advisors's Enterprise Products Partners L.P. Position
True North Advisors closed out its entire holding in Enterprise Products Partners L.P. during the period, bringing its share count down from 150,184 shares to zero. The firm sold off the entirety of the stake, completely removing the energy midstream operator from its portfolio.
Other Institutional Activity in Enterprise Products Partners L.P.
Other large funds made mixed adjustments to their holdings in Enterprise Products Partners L.P. Alps Advisors Inc. grew its holdings by 134,912 shares, ending with 43,655,056 shares worth about $1.59 billion. Blackstone Inc lifted its stake by 2,656,921 shares, bringing its total to 23,760,341 shares valued at roughly $867.7 million. Tortoise Capital Advisors, LLC added 3,774,907 shares for a 25.4% increase, finishing with 18,636,746 shares worth about $680.6 million. Sarofim, Fayez & Co trimmed its position by 200,878 shares, leaving it with 15,998,982 shares valued at approximately $584.3 million. Energy Income Partners, LLC grew its holdings by 100,241 shares, ending with 13,831,913 shares worth about $505.1 million.
Enterprise Products Partners L.P. Stock Up 2.7%
Enterprise Products Partners L.P. shares closed at $36.52 on October 22, 2026. The stock recently traded around $36.52 on October 23, 2026, remaining about equal to its filing-day close.
Recent Earnings
Enterprise Products Partners L.P. generated trailing twelve month revenue of $58,470,998,016 with earnings of $2.88 per share. The company reported a net profit margin of 10.8% and a return on equity of 20.9%, alongside year-over-year revenue growth of 60.8%. Investors can look toward the next earnings update scheduled for October 29, 2026.
Dividend
Enterprise Products Partners L.P. distributes an annual dividend rate of $2.24 per share. The company maintains a dividend payout ratio of 76.0%.
Insider Buying and Selling at Enterprise Products Partners L.P.
Company insiders made several transactions prior to the filing. Director John R Rutherford bought 15,000 shares on July 29, 2025, at $31.35 apiece for a total of $470,220. Director William C. Montgomery III acquired 16,000 shares on July 30, 2025, paying $31.55 per share for a total value of $504,864. Later, John R Rutherford purchased another 15,000 shares on December 29, 2025, at $32.09 per share totaling $481,334. Chief Executive Officer A. James Teague bought 2,665 shares on March 20, 2026, at $37.55 per share for a value of $100,069.
Analysts Set New Price Targets
Wall Street firms updated their stances on Enterprise Products Partners L.P. ahead of the filing. On July 21, 2026, Morgan Stanley maintained its Underweight rating with a $40.00 price target, down from $43.00. TD Cowen kept a Hold rating on August 3, 2026, adjusting its price target to $38.00 from $39.00. Morgan Stanley again maintained an Underweight rating on August 18, 2026, moving its target to $41.00 from $40.00. RBC Capital reiterated its Outperform rating on September 22, 2026, holding its target steady at $42.00. JP Morgan maintained a Neutral rating on October 8, 2026, lowering its target to $42.00 from $43.00.
About Enterprise Products Partners L.P.
Enterprise Products Partners L.P. operates as a midstream energy provider, connecting producers and consumers of natural gas, crude oil, petrochemicals, and refined products. The Houston-based firm manages an extensive network handling natural gas processing, pipeline transportation, and related marketing activities across multiple segments.
Bottom Line
True North Advisors completely removed Enterprise Products Partners L.P. from its holdings during the quarter. Market watchers will monitor upcoming financial results on October 29, 2026, to gauge the company's ongoing performance.
Related Filing Alerts
Source: True North Advisors's 13F filing on $EPD (Oct 22, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts