Capital Analysts LLC Cuts Stake in Enterprise Products Partners L.P. $EPD

Capital Analysts LLC lessened its position in Enterprise Products Partners L.P. (NYSE:EPD) by 12.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 121,380 shares of the oil and gas producer’s stock after selling 16,520 shares during the period. Capital Analysts LLC’s holdings in Enterprise Products Partners were worth $4,461,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the third quarter worth about $31,000. N.E.W. Advisory Services LLC purchased a new stake in Enterprise Products Partners in the 2nd quarter valued at approximately $37,000. Bravera Wealth increased its position in Enterprise Products Partners by 666.7% during the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after purchasing an additional 900 shares during the period. Markowski Investments acquired a new position in Enterprise Products Partners during the 2nd quarter worth approximately $46,000. Finally, BOK Financial Private Wealth Inc. purchased a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $48,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EPD. TD Cowen restated a “hold” rating and issued a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. UBS Group reissued a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. JPMorgan Chase & Co. boosted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Enterprise Products Partners Price Performance

EPD stock opened at $39.33 on Thursday. The firm has a 50 day moving average of $38.28 and a 200-day moving average of $37.84. The company has a market cap of $84.93 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.42 and a beta of 0.50. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The company’s revenue was up 60.8% compared to the same quarter last year. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 3.03 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.7%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is currently 77.78%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.

Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.