Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 7.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,012,910 shares of the oil and gas producer’s stock after selling 76,752 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Enterprise Products Partners were worth $29,354,000 at the end of the most recent quarter.

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

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $29.32 on Friday. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $30.05. The business has a 50-day moving average of $29.22 and a 200-day moving average of $28.89. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The company has a market capitalization of $63.67 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results 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 return on equity of 20.13% and a net margin of 10.48%. The company had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same period in the previous year, the company earned $0.57 EPS. Enterprise Products Partners’s quarterly revenue was up 26.6% on a year-over-year basis. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a $0.525 dividend. 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. This represents a $2.10 annualized dividend and a dividend yield of 7.16%. Enterprise Products Partners’s payout ratio is 82.35%.

Analysts Set New Price Targets

Several research firms recently commented on EPD. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Morgan Stanley dropped their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Finally, Truist Financial upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average target price of $33.08.

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.