King Luther Capital Management Corp Decreases Stake in Enterprise Products Partners L.P. (NYSE:EPD)

King Luther Capital Management Corp cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,894 shares of the oil and gas producer’s stock after selling 3,254 shares during the quarter. King Luther Capital Management Corp’s holdings in Enterprise Products Partners were worth $6,836,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in EPD. Hantz Financial Services Inc. purchased a new position in shares of Enterprise Products Partners during the second quarter worth $25,000. Stephens Consulting LLC purchased a new position in shares of Enterprise Products Partners during the 1st quarter valued at about $29,000. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at about $29,000. Mascoma Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners in the second quarter worth about $29,000. Finally, Burkett Financial Services LLC acquired a new stake in Enterprise Products Partners during the fourth quarter worth about $28,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on EPD. Truist Financial lifted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley cut 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. Finally, StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Trading Down 0.3 %

NYSE:EPD opened at $29.30 on Friday. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The stock has a fifty day moving average price of $29.22 and a two-hundred day moving average price of $28.89. The stock has a market capitalization of $63.62 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. Enterprise Products Partners’s revenue was up 26.6% compared to the same quarter last year. During the same period last year, the firm earned $0.57 EPS. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.17%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s payout ratio is 82.35%.

Enterprise Products Partners Company 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.