EP Wealth Advisors LLC Reduces Stake in Enterprise Products Partners L.P. (NYSE:EPD)

EP Wealth Advisors LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 12.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 147,894 shares of the oil and gas producer’s stock after selling 21,929 shares during the quarter. EP Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $4,286,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hantz Financial Services Inc. purchased a new position in Enterprise Products Partners during the 2nd quarter valued at about $25,000. Stephens Consulting LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $29,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $29,000. Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $29,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Enterprise Products Partners in the 2nd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.2 %

Shares of EPD opened at $29.12 on Tuesday. The firm has a market cap of $63.22 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The company’s fifty day moving average is $29.16 and its two-hundred day moving average is $28.94. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (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 firm had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. During the same period last year, the firm posted $0.57 EPS. Enterprise Products Partners’s revenue was up 26.6% on a year-over-year basis. 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a $0.525 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.21%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio is presently 82.35%.

Analyst Ratings Changes

A number of research firms have recently weighed in on EPD. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley decreased their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. Two equities research 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners 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.