Enterprise Products Partners L.P. $EPD Stock Position Decreased by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 16.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,573 shares of the oil and gas producer’s stock after selling 15,307 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Enterprise Products Partners were worth $2,962,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Harrell Investment Partners LLC increased its stake in Enterprise Products Partners by 14.9% in the 2nd quarter. Harrell Investment Partners LLC now owns 62,052 shares of the oil and gas producer’s stock worth $2,281,000 after purchasing an additional 8,048 shares in the last quarter. Shrier Wealth Management LLC boosted its holdings in shares of Enterprise Products Partners by 1.0% in the second quarter. Shrier Wealth Management LLC now owns 82,750 shares of the oil and gas producer’s stock worth $3,042,000 after buying an additional 788 shares during the period. Bay Rivers Group increased its position in shares of Enterprise Products Partners by 34.2% in the second quarter. Bay Rivers Group now owns 9,395 shares of the oil and gas producer’s stock worth $345,000 after acquiring an additional 2,395 shares in the last quarter. Allied Private Wealth LLC purchased a new position in shares of Enterprise Products Partners in the second quarter worth approximately $331,000. Finally, Everhart Financial Group Inc. acquired a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $249,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $37.86 on Thursday. The stock has a market cap of $81.76 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.36 and a beta of 0.49. The business has a 50 day simple moving average of $37.56 and a 200 day simple moving average of $37.29. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91.

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 the consensus estimate of $0.75 by $0.09. The firm had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.80%. The company’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.96 earnings per share 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. Investors of record on Friday, July 31st will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 5.9%. 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. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

Analysts Set New Price Targets

Several brokerages recently commented on EPD. UBS Group restated a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. TD Cowen reissued a “hold” rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Stifel Nicolaus raised their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.93.

Enterprise Products Partners Company 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.