Sequent Asset Management LLC lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 15.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,609 shares of the oil and gas producer’s stock after selling 2,050 shares during the quarter. Sequent Asset Management LLC’s holdings in Enterprise Products Partners were worth $321,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of EPD. Summit Trail Advisors LLC increased its holdings in shares of Enterprise Products Partners by 2,317.4% in the first quarter. Summit Trail Advisors LLC now owns 10,241,168 shares of the oil and gas producer’s stock valued at $10,241,000 after purchasing an additional 9,817,521 shares during the last quarter. Brookfield Asset Management Inc. increased its holdings in shares of Enterprise Products Partners by 215.4% in the first quarter. Brookfield Asset Management Inc. now owns 12,347,075 shares of the oil and gas producer’s stock valued at $302,256,000 after purchasing an additional 8,432,139 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of Enterprise Products Partners by 13.2% in the second quarter. Alps Advisors Inc. now owns 40,898,736 shares of the oil and gas producer’s stock valued at $1,084,226,000 after purchasing an additional 4,777,192 shares during the last quarter. Zimmer Partners LP increased its holdings in shares of Enterprise Products Partners by 2,162.8% in the first quarter. Zimmer Partners LP now owns 2,846,525 shares of the oil and gas producer’s stock valued at $69,683,000 after purchasing an additional 2,720,729 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $34,331,000. 36.30% of the stock is owned by hedge funds and other institutional investors.
EPD has been the subject of several recent research reports. Seaport Global Securities set a $27.00 price target on Enterprise Products Partners and gave the company a “buy” rating in a report on Monday, April 9th. Barclays cut their price target on Enterprise Products Partners from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, April 17th. Deutsche Bank initiated coverage on Enterprise Products Partners in a report on Thursday, April 19th. They issued a “buy” rating and a $31.00 price target for the company. ValuEngine cut Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, Zacks Investment Research raised Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Monday, July 2nd. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Enterprise Products Partners presently has an average rating of “Buy” and a consensus price target of $31.86.
Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 30th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.32 billion. Enterprise Products Partners had a return on equity of 12.95% and a net margin of 9.41%. During the same period in the prior year, the business posted $0.36 earnings per share. analysts forecast that Enterprise Products Partners L.P. will post 1.64 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 8th. Investors of record on Tuesday, July 31st will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 5.91%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.43. The ex-dividend date is Monday, July 30th. Enterprise Products Partners’s dividend payout ratio is presently 129.55%.
Enterprise Products Partners Profile
Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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