Enterprise Products Partners L.P. $EPD Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,822,053 shares of the oil and gas producer’s stock after selling 44,235 shares during the period. HighTower Advisors LLC’s holdings in Enterprise Products Partners were worth $140,499,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after acquiring an additional 5,425 shares during the last quarter. Schnieders Capital Management LLC. grew its holdings in shares of Enterprise Products Partners by 9.3% during the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after purchasing an additional 5,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Enterprise Products Partners by 6.2% during the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock valued at $1,975,000 after purchasing an additional 3,742 shares during the last quarter. Guggenheim Capital LLC raised its position in shares of Enterprise Products Partners by 6.1% during the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock worth $847,000 after purchasing an additional 1,578 shares during the period. Finally, Glenview Trust co raised its position in shares of Enterprise Products Partners by 315.8% during the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock worth $1,043,000 after purchasing an additional 25,555 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.1%

NYSE:EPD opened at $38.97 on Monday. The stock has a market cap of $84.15 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.42 and a beta of 0.50. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The business has a fifty day moving average of $38.14 and a 200-day moving average of $37.78.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The business had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The company’s revenue was up 60.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 earnings per share. Equities analysts predict that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.56 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.7%. Enterprise Products Partners’s payout ratio is presently 77.78%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EPD. Scotiabank restated a “sector perform” rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Morgan Stanley reaffirmed an “underweight” rating and issued a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. JPMorgan Chase & Co. raised their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. TD Cowen reissued a “hold” rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Enterprise Products Partners Profile

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.