Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 7.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,012,910 shares of the oil and gas producer’s stock after selling 76,752 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Enterprise Products Partners were worth $29,354,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its stake in Enterprise Products Partners by 1.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 63,938 shares of the oil and gas producer’s stock valued at $1,853,000 after buying an additional 611 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new stake in Enterprise Products Partners during the second quarter valued at approximately $439,000. Parallel Advisors LLC raised its stake in Enterprise Products Partners by 8.1% during the second quarter. Parallel Advisors LLC now owns 45,635 shares of the oil and gas producer’s stock valued at $1,323,000 after buying an additional 3,409 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in Enterprise Products Partners by 2.2% during the second quarter. Oppenheimer & Co. Inc. now owns 545,928 shares of the oil and gas producer’s stock valued at $15,821,000 after buying an additional 11,775 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its stake in Enterprise Products Partners by 9.7% during the second quarter. Main Street Financial Solutions LLC now owns 8,730 shares of the oil and gas producer’s stock valued at $253,000 after buying an additional 770 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the topic of a number of research reports. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial increased their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley dropped their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus target price of $33.08.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $29.32 on Friday. The stock has a fifty day moving average price of $29.22 and a two-hundred day moving average price of $28.89. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The firm has a market cap of $63.67 billion, a P/E ratio of 11.50, a PEG ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05.

Enterprise Products Partners (NYSE:EPD) last issued 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). The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 earnings per share. Research analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS 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 paid a dividend of $0.525 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

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.