Epoch Investment Partners Inc. Decreases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Epoch Investment Partners Inc. lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,138,307 shares of the oil and gas producer’s stock after selling 108,769 shares during the quarter. Epoch Investment Partners Inc. owned 0.10% of Enterprise Products Partners worth $61,968,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. JRM Investment Counsel LLC grew its holdings in Enterprise Products Partners by 2.1% during the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after acquiring an additional 10,404 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC grew its stake in shares of Enterprise Products Partners by 37.5% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 881,700 shares of the oil and gas producer’s stock worth $23,233,000 after purchasing an additional 240,300 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Enterprise Products Partners by 19.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after buying an additional 3,770 shares during the last quarter. Platform Technology Partners raised its stake in Enterprise Products Partners by 14.4% in the fourth quarter. Platform Technology Partners now owns 27,245 shares of the oil and gas producer’s stock valued at $722,000 after buying an additional 3,426 shares in the last quarter. Finally, Nwam LLC lifted its holdings in Enterprise Products Partners by 25.1% during the 1st quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock worth $591,000 after buying an additional 4,184 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Morgan Stanley reduced 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. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $29.32 on Monday. The stock 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. The firm’s fifty day simple moving average is $29.22 and its 200-day simple moving average is $28.90. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. 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 announced its earnings results 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 business 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 posted $0.57 earnings per share. Enterprise Products Partners’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.16%. 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 dividend payout ratio (DPR) is presently 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.