Thrivent Financial for Lutherans Sells 33,360 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Thrivent Financial for Lutherans trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,872,241 shares of the oil and gas producer’s stock after selling 33,360 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Enterprise Products Partners were worth $112,218,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Blackstone Inc. grew its holdings in Enterprise Products Partners by 6.3% during the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after purchasing an additional 1,391,370 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Enterprise Products Partners by 4.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after buying an additional 741,237 shares during the period. Energy Income Partners LLC lifted its stake in shares of Enterprise Products Partners by 0.9% during the 1st quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock worth $455,761,000 after acquiring an additional 142,689 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in Enterprise Products Partners by 2.6% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock valued at $326,091,000 after acquiring an additional 284,772 shares during the period. Finally, Chickasaw Capital Management LLC grew its position in Enterprise Products Partners by 1.6% in the 2nd quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer’s stock valued at $159,901,000 after acquiring an additional 87,930 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.3 %

Shares of NYSE:EPD opened at $29.30 on Friday. The company has a market capitalization of $63.62 billion, a PE ratio of 11.49, a P/E/G ratio of 1.49 and a beta of 1.03. 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. The business’s fifty day simple moving average is $29.22 and its 200-day simple moving average is $28.89.

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 return on equity of 20.13% and a net margin of 10.48%. The firm 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 firm posted $0.57 earnings per share. The business’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 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a $0.525 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 7.17%. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s payout ratio is currently 82.35%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of 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. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Truist Financial raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. 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. Based on data from MarketBeat.com, the company currently has a consensus 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.