Hamlin Capital Management LLC Sells 70,949 Shares of Enterprise Products Partners L.P. $EPD

Hamlin Capital Management LLC lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,792,357 shares of the oil and gas producer’s stock after selling 70,949 shares during the period. Enterprise Products Partners makes up about 4.0% of Hamlin Capital Management LLC’s portfolio, making the stock its 12th largest holding. Hamlin Capital Management LLC’s holdings in Enterprise Products Partners were worth $176,167,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. M.E. Allison & CO. Inc. increased its stake in Enterprise Products Partners by 5.5% in the second quarter. M.E. Allison & CO. Inc. now owns 7,765 shares of the oil and gas producer’s stock valued at $285,000 after acquiring an additional 402 shares during the last quarter. CoreCap Advisors LLC lifted its position in shares of Enterprise Products Partners by 2.5% during the 2nd quarter. CoreCap Advisors LLC now owns 167,364 shares of the oil and gas producer’s stock worth $6,152,000 after buying an additional 4,102 shares during the last quarter. Howard Financial Services LTD. lifted its position in shares of Enterprise Products Partners by 4.2% during the 2nd quarter. Howard Financial Services LTD. now owns 139,438 shares of the oil and gas producer’s stock worth $5,126,000 after buying an additional 5,670 shares during the last quarter. RDA Financial Network boosted its stake in Enterprise Products Partners by 2.0% in the second quarter. RDA Financial Network now owns 20,696 shares of the oil and gas producer’s stock valued at $761,000 after buying an additional 400 shares in the last quarter. Finally, Roxbury Financial LLC boosted its stake in Enterprise Products Partners by 13.6% in the second quarter. Roxbury Financial LLC now owns 6,194 shares of the oil and gas producer’s stock valued at $228,000 after buying an additional 743 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $37.70 on Thursday. The business’s 50-day moving average price is $37.51 and its 200-day moving average price is $37.12. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The firm has a market capitalization of $81.50 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 1.37 and a beta of 0.49. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.80%. The company’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.94 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.56 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.9%. Enterprise Products Partners’s dividend payout ratio is presently 77.78%.

Analysts Set New Price Targets

Several brokerages have commented on EPD. Truist Financial boosted their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Weiss Ratings lowered shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. UBS Group reiterated a “buy” rating and set a $45.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Scotiabank reissued a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.93.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.