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

RR Advisors LLC reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 22.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 351,930 shares of the oil and gas producer’s stock after selling 100,000 shares during the quarter. Enterprise Products Partners comprises about 3.7% of RR Advisors LLC’s portfolio, making the stock its 11th largest holding. RR Advisors LLC’s holdings in Enterprise Products Partners were worth $12,937,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners during the 3rd quarter worth about $31,000. N.E.W. Advisory Services LLC purchased a new stake in Enterprise Products Partners during the second quarter worth $37,000. Bravera Wealth increased its holdings in Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after buying an additional 900 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new position in shares of Enterprise Products Partners in the second quarter worth about $48,000. Finally, West Paces Advisors Inc. purchased a new position in shares of Enterprise Products Partners in the 2nd quarter valued at about $55,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 0.3%

Shares of Enterprise Products Partners stock opened at $38.12 on Monday. The company has a fifty day simple moving average of $37.67 and a 200-day simple moving average of $37.54. The stock has a market cap of $82.32 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 1.25 and a beta of 0.49. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00.

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 company had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The firm’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 3.03 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.56 dividend. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.9%. Enterprise Products Partners’s dividend payout ratio is currently 77.78%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citigroup restated a “buy” rating and issued a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Scotiabank reiterated a “sector perform” rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. UBS Group restated a “buy” rating and set a $45.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Finally, Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

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.