Conservest Capital Advisors Inc. Sells 2,707 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Conservest Capital Advisors Inc. decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 22.4% during the 3rd quarter, Holdings Channel reports. The firm owned 9,399 shares of the oil and gas producer’s stock after selling 2,707 shares during the quarter. Conservest Capital Advisors Inc.’s holdings in Enterprise Products Partners were worth $269,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in EPD. Invesco Ltd. boosted its position in shares of Enterprise Products Partners by 3,750.3% during the 2nd quarter. Invesco Ltd. now owns 16,978,814 shares of the oil and gas producer’s stock valued at $490,179,000 after purchasing an additional 16,537,844 shares in the last quarter. Commonwealth Bank of Australia boosted its holdings in Enterprise Products Partners by 4,745.7% in the second quarter. Commonwealth Bank of Australia now owns 2,845,253 shares of the oil and gas producer’s stock worth $82,134,000 after acquiring an additional 2,786,536 shares in the last quarter. Chickasaw Capital Management LLC boosted its holdings in Enterprise Products Partners by 16.4% in the third quarter. Chickasaw Capital Management LLC now owns 13,375,378 shares of the oil and gas producer’s stock worth $382,268,000 after acquiring an additional 1,880,501 shares in the last quarter. Morgan Stanley boosted its holdings in Enterprise Products Partners by 9.4% in the second quarter. Morgan Stanley now owns 21,438,384 shares of the oil and gas producer’s stock worth $618,927,000 after acquiring an additional 1,835,431 shares in the last quarter. Finally, Energy Income Partners LLC raised its stake in shares of Enterprise Products Partners by 6.6% in the second quarter. Energy Income Partners LLC now owns 22,050,598 shares of the oil and gas producer’s stock worth $636,601,000 after purchasing an additional 1,366,532 shares during the last quarter. Institutional investors own 36.67% of the company’s stock.

Shares of Enterprise Products Partners stock traded down $0.10 on Monday, hitting $27.50. The company had a trading volume of 54,568 shares, compared to its average volume of 4,368,743. The stock has a market capitalization of $60.42 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 3.11 and a beta of 0.87. Enterprise Products Partners L.P. has a 1 year low of $23.33 and a 1 year high of $30.86. The stock has a 50 day moving average of $28.34 and a 200-day moving average of $28.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.75 and a current ratio of 1.00.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. The company had revenue of $8.28 billion during the quarter, compared to the consensus estimate of $8.57 billion. Enterprise Products Partners had a return on equity of 20.02% and a net margin of 14.26%. Enterprise Products Partners’s revenue was down 2.3% on a year-over-year basis. During the same period last year, the business posted $0.31 earnings per share. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.2 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be given a dividend of $0.4425 per share. This represents a $1.77 dividend on an annualized basis and a dividend yield of 6.44%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, October 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 90.72%.

Several brokerages have recently commented on EPD. ValuEngine downgraded Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Royal Bank of Canada began coverage on Enterprise Products Partners in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price objective for the company. Zacks Investment Research downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research note on Monday, August 26th. Piper Jaffray Companies began coverage on Enterprise Products Partners in a research note on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 price objective for the company. Finally, Scotia Howard Weill began coverage on Enterprise Products Partners in a research note on Wednesday, September 4th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $33.45.

In other Enterprise Products Partners news, Director Murray E. Brasseux purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $30.00 per share, with a total value of $150,000.00. Following the completion of the transaction, the director now owns 17,885 shares of the company’s stock, valued at approximately $536,550. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 37.50% of the company’s stock.

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

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