Enterprise Products Partners L.P. (NYSE:EPD) Stock Position Raised by Callan Capital LLC

Callan Capital LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 32.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,057 shares of the oil and gas producer’s stock after acquiring an additional 7,671 shares during the quarter. Callan Capital LLC’s holdings in Enterprise Products Partners were worth $900,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Blackstone Inc. increased its stake in Enterprise Products Partners by 6.3% in the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after buying an additional 1,391,370 shares during the period. Tortoise Capital Advisors L.L.C. increased its stake in shares of Enterprise Products Partners by 4.8% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after purchasing an additional 741,237 shares during the last quarter. Energy Income Partners LLC increased its stake in shares of Enterprise Products Partners by 0.9% during the 1st quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock worth $455,761,000 after purchasing an additional 142,689 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its stake in shares of Enterprise Products Partners by 2.6% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock worth $326,091,000 after purchasing an additional 284,772 shares during the last quarter. Finally, Chickasaw Capital Management LLC increased its stake in shares of Enterprise Products Partners by 1.6% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer’s stock worth $159,901,000 after purchasing an additional 87,930 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley decreased 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. Truist Financial upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Trading Down 0.4 %

Shares of Enterprise Products Partners stock opened at $29.38 on Friday. The stock has a market capitalization of $63.80 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The company has a 50-day simple moving average of $29.22 and a 200 day simple moving average of $28.87. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05.

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 net margin of 10.48% and a return on equity of 20.13%. The company had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the previous year, the business posted $0.57 EPS. The company’s revenue was up 26.6% compared to the same quarter last year. Research analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.525 dividend. The ex-dividend date was Wednesday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.15%. Enterprise Products Partners’s payout ratio is currently 82.35%.

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