Thrivent Financial for Lutherans Reduces Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Thrivent Financial for Lutherans lowered its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,872,241 shares of the oil and gas producer’s stock after selling 33,360 shares during the period. Thrivent Financial for Lutherans owned about 0.18% of Enterprise Products Partners worth $112,218,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in Enterprise Products Partners by 5.2% in the 2nd quarter. Pacer Advisors Inc. now owns 81,517 shares of the oil and gas producer’s stock worth $2,362,000 after purchasing an additional 4,038 shares during the period. Ranch Capital Advisors Inc. raised its stake in shares of Enterprise Products Partners by 1.5% in the second quarter. Ranch Capital Advisors Inc. now owns 27,175 shares of the oil and gas producer’s stock worth $788,000 after buying an additional 407 shares during the period. AE Wealth Management LLC lifted its position in shares of Enterprise Products Partners by 67.6% during the 2nd quarter. AE Wealth Management LLC now owns 35,024 shares of the oil and gas producer’s stock valued at $1,015,000 after buying an additional 14,122 shares in the last quarter. Bridges Investment Management Inc. grew its stake in shares of Enterprise Products Partners by 215.6% during the 2nd quarter. Bridges Investment Management Inc. now owns 192,363 shares of the oil and gas producer’s stock valued at $5,575,000 after acquiring an additional 131,418 shares during the period. Finally, Callan Capital LLC raised its stake in Enterprise Products Partners by 32.8% during the 2nd quarter. Callan Capital LLC now owns 31,057 shares of the oil and gas producer’s stock worth $900,000 after acquiring an additional 7,671 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $29.30 on Friday. The company has a market capitalization of $63.62 billion, a P/E ratio of 11.49, a P/E/G ratio of 1.49 and a beta of 1.03. The business’s 50-day moving average is $29.22 and its 200 day moving average is $28.89. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. 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 earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share 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 business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same period last year, the business posted $0.57 earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued 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 7.17%. Enterprise Products Partners’s payout ratio is 82.35%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EPD shares. 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. Truist Financial upped their target price 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, Morgan Stanley decreased their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Two investment analysts have rated the stock with a hold rating, eleven have issued 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 a consensus 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.