Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,894 shares of the oil and gas producer’s stock after selling 3,254 shares during the period. King Luther Capital Management Corp’s holdings in Enterprise Products Partners were worth $6,836,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Aveo Capital Partners LLC raised its holdings in shares of Enterprise Products Partners by 1.3% during the 4th quarter. Aveo Capital Partners LLC now owns 55,566 shares of the oil and gas producer’s stock valued at $1,464,000 after buying an additional 716 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Enterprise Products Partners by 37.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,233 shares of the oil and gas producer’s stock worth $349,000 after purchasing an additional 3,638 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Enterprise Products Partners by 2.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 529,375 shares of the oil and gas producer’s stock valued at $13,949,000 after purchasing an additional 11,549 shares during the period. US Bancorp DE grew its holdings in Enterprise Products Partners by 1.3% during the 4th quarter. US Bancorp DE now owns 718,587 shares of the oil and gas producer’s stock valued at $18,935,000 after purchasing an additional 9,421 shares in the last quarter. Finally, FineMark National Bank & Trust grew its holdings in Enterprise Products Partners by 6.5% during the 4th quarter. FineMark National Bank & Trust now owns 19,513 shares of the oil and gas producer’s stock valued at $514,000 after purchasing an additional 1,189 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD opened at $29.30 on Friday. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05. The firm has a market capitalization of $63.62 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The stock’s 50 day moving average price is $29.22 and its two-hundred day moving average price is $28.89. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last announced 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). The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 EPS. On average, 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 issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.17%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s payout ratio is presently 82.35%.

Wall Street Analyst Weigh In

EPD has been the topic of several recent analyst reports. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report 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 for the company in a research report 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.