Waters Parkerson & CO. LLC Sells 2,647 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Waters Parkerson & CO. LLC trimmed its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 8.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,342 shares of the oil and gas producer’s stock after selling 2,647 shares during the period. Waters Parkerson & CO. LLC’s holdings in Enterprise Products Partners were worth $850,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hantz Financial Services Inc. acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter worth about $25,000. Stephens Consulting LLC bought a new stake in Enterprise Products Partners during the first quarter worth about $29,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth approximately $29,000. Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $29,000. Finally, Burkett Financial Services LLC bought a new stake in Enterprise Products Partners during the 4th quarter worth approximately $28,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $29.38 on Friday. The firm has a fifty day moving average of $29.22 and a two-hundred day moving average of $28.87. 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 market capitalization of $63.80 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $14.23 billion. During the same quarter in the prior year, the company posted $0.57 EPS. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a dividend of $0.525 per share. This is a positive change 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 yield of 7.15%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Analyst Ratings Changes

A number of equities analysts have commented on EPD shares. Truist Financial boosted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley lowered 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 research report on Monday, June 10th. Finally, StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.08.

About Enterprise Products Partners

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.