Leisure Capital Management Has $254,000 Stock Holdings in Enterprise Products Partners L.P. $EPD

Leisure Capital Management trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 76.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 6,915 shares of the oil and gas producer’s stock after selling 22,944 shares during the period. Leisure Capital Management’s holdings in Enterprise Products Partners were worth $254,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Everest Financial Group LLC raised its position in Enterprise Products Partners by 3.6% in the first quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock worth $298,000 after purchasing an additional 271 shares in the last quarter. Walker Asset Management LLC lifted its stake in Enterprise Products Partners by 1.4% during the second quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock worth $745,000 after purchasing an additional 282 shares during the period. Hobbs Group Advisors LLC boosted its holdings in Enterprise Products Partners by 1.4% during the first quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock valued at $791,000 after purchasing an additional 298 shares in the last quarter. Hunter Associates Investment Management LLC boosted its holdings in Enterprise Products Partners by 3.8% during the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock valued at $307,000 after purchasing an additional 300 shares in the last quarter. Finally, Mission Wealth Management LP grew its stake in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock valued at $1,037,000 after purchasing an additional 328 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EPD. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. upped their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Citigroup reiterated a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Morgan Stanley set a $40.00 price objective on Enterprise Products Partners and gave the company an “underweight” rating in a report on Tuesday, July 21st. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.93.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $38.09 on Friday. The stock has a market capitalization of $82.24 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 1.36 and a beta of 0.49. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The firm has a 50 day moving average of $37.56 and a 200-day moving average of $37.33.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.The business had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period in the prior year, the company earned $0.66 EPS. Enterprise Products Partners’s revenue for the quarter was up 60.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.96 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.56 dividend. The ex-dividend date of this dividend is Friday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a yield of 5.9%. Enterprise Products Partners’s payout ratio is 77.78%.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.