Koshinski Asset Management Inc. Invests $203,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Koshinski Asset Management Inc. purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,484 shares of the oil and gas producer’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Evanson Asset Management LLC increased its position in shares of Enterprise Products Partners L.P. by 1.0% in the first quarter. Evanson Asset Management LLC now owns 110,131 shares of the oil and gas producer’s stock valued at $3,041,000 after buying an additional 1,110 shares during the period. North American Management Corp increased its position in shares of Enterprise Products Partners L.P. by 6.1% in the first quarter. North American Management Corp now owns 175,930 shares of the oil and gas producer’s stock valued at $4,857,000 after buying an additional 10,121 shares during the period. Telemus Capital LLC increased its position in shares of Enterprise Products Partners L.P. by 0.9% in the first quarter. Telemus Capital LLC now owns 73,021 shares of the oil and gas producer’s stock valued at $2,016,000 after buying an additional 679 shares during the period. Karp Capital Management Corp acquired a new position in shares of Enterprise Products Partners L.P. during the first quarter valued at $502,000. Finally, Warren Averett Asset Management LLC acquired a new position in shares of Enterprise Products Partners L.P. during the first quarter valued at $225,000. Institutional investors own 38.69% of the company’s stock.

Shares of Enterprise Products Partners L.P. (EPD) traded up 0.209% during mid-day trading on Thursday, reaching $26.315. The company had a trading volume of 957,680 shares. The company’s 50-day moving average is $27.03 and its 200 day moving average is $27.46. Enterprise Products Partners L.P. has a 52-week low of $24.01 and a 52-week high of $30.25. The stock has a market capitalization of $56.53 billion, a P/E ratio of 20.704 and a beta of 0.89.

Enterprise Products Partners L.P. (NYSE:EPD) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.03. The company had revenue of $6.61 billion during the quarter, compared to analyst estimates of $6.44 billion. Enterprise Products Partners L.P. had a return on equity of 12.04% and a net margin of 10.28%. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. Analysts anticipate that Enterprise Products Partners L.P. will post $1.39 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 31st were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.40%. This is a positive change from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, July 27th. Enterprise Products Partners L.P.’s dividend payout ratio (DPR) is currently 132.28%.

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A number of analysts have recently commented on the company. BidaskClub upgraded Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Sanford C. Bernstein assumed coverage on Enterprise Products Partners L.P. in a report on Tuesday, May 16th. They set an “outperform” rating for the company. Barclays PLC restated an “overweight” rating and set a $31.00 price objective (down from $33.00) on shares of Enterprise Products Partners L.P. in a report on Friday, August 4th. Guggenheim assumed coverage on Enterprise Products Partners L.P. in a report on Monday, April 17th. They set a “buy” rating and a $32.00 price objective for the company. Finally, Vetr upgraded Enterprise Products Partners L.P. from a “buy” rating to a “strong-buy” rating and set a $31.42 price objective for the company in a report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $31.81.

About Enterprise Products Partners L.P.

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners L.P. (NYSE:EPD)

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